WPP refuses to pay Sorrell's share awards over alleged leaks

WPP, the world's biggest advertising company, on Thursday said it would not pay former CEO Martin Sorrell his share incentive awards due to what it said were leaks of confidential client information to the media. WPP said its compensation committee determined that the five-year 2016 and 2017 EPSP Awards granted to Sorrell would lapse.

WPP, the world's biggest advertising company, on Thursday said it would not pay former CEO Martin Sorrell his share incentive awards due to what it said were leaks of confidential client information to the media.

WPP said its compensation committee determined that the five-year 2016 and 2017 EPSP Awards granted to Sorrell would 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," WPP said.

Sorrell was not immediately available for comment. Sorrell launched WPP in 1985 and built it into the world's biggest advertising company through a string of major deals to offer advertising, media buying services, pr and data analytics to global brands such as Ford, HSBC and Unilever.

He left the British firm in 2018 over a complaint about personal misconduct which he always denied. He has since launched a new digital advertising company that already has a market value of 3 billion pounds ($4.2 billion) and a large roster of clients. ($1 = 0.7169 pounds)