WPP cuts former CEO Sorrell’s share awards over alleged leaks

imageStock Markets1 hour ago (Apr 29, 2021 10:55AM ET)

(C) Reuters. FILE PHOTO: Branding signage is seen for WPP, the world’s biggest advertising and marketing company, at their offices in London

LONDON (Reuters) – WPP (LON:WPP), the world’s biggest advertising company, on Thursday said it was cutting former CEO Martin Sorrell’s long-term share incentive awards due to what it said were leaks of confidential information to the media.

WPP said its compensation committee “determined that the 2016 and 2017 EPSP Awards granted to Sir Martin Sorrell, the former Group Chief Executive, will lapse”.

The decision was made due to “Sir Martin Sorrell’s disclosure of confidential information belonging to WPP and certain of its clients to the media during his tenure as a WPP director,” it said.

Sorrell was not immediately available for comment.

WPP cuts former CEO Sorrell’s share awards over alleged leaks

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