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72: WPP needs to plan for life after Sorrell

Company being urged to address ‘key man risk’

Martin Sorrell, the founder and chief executive of advertising giant WPP (WPP), is now 72 years old, raising concerns about succession planning.

Whereas his level of remuneration (running into the tens of millions of pounds) is typically a bugbear for shareholders at WPP’s AGMs, this year’s meeting (7 June) triggered much debate on future leadership.

Standard Life Investments says: ‘As another annual meeting passes, the time to address succession for the CEO shortens and the necessity to do so becomes more pressing.’

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15 Jun 2017

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