EchoVibe

ADVERTISING guru Sir Martin Sorrell has built one of the world's most successful businesses and boasts a bulging pay packet to go with it.

He's now stepped down following an investigation into allegations of financial impropriety - only to take up another role. We take a look at the man behind the millions.

Who is Martin Sorrell?

Sorrell was born in London in 1945, the son of an electronics retailer father.

He was educated at the prestigious Haberdashers' Aske's Boys' School and studied at Christ's College, Cambridge before completing an MBA at Harvard.

In the 1970s he was appointed group finance director for Saatchi & Saatchi, where he was often referred to as "the third brother" for his indispensable role.

It was there that he gained the expertise that would be instrumental to the building of his own company.

In 1985, he formed WPP after taking control of a shell company, Wire & Plastic Products, and established it as a marketing services group in 1986.

As CEO of the company for the past three decades he has built up an advertising empire with 3,000 offices in 112 countries.

The razor sharp businessman was knighted in the 2000 New Year Honours.

Why was the WPP boss investigated for misconduct?

In April 3, 2018, WPP announced it was investigating an allegation of personal misconduct against Sir Martin Sorrell.

The  advertising agency said its board had appointed independent counsel to conduct the investigation.

The firm said in a statement that the "allegations do not involve amounts which are material to WPP".

Mr Sorrell said he rejected any allegation of financial impropriety "unreservedly".

"Reports in the media have stated that WPP is investigating an allegation of financial impropriety by me, specifically as to the use of company funds.

"This allegation is being investigated by a law firm. I reject the allegation unreservedly but recognise that the company has to investigate it.

"I understand that this process will be completed shortly."

Sir Martin added: "As a significant share owner, my commitment to the company, which I founded over thirty years ago, remains absolute - to our people, our clients, our shareholders and all of our many stakeholders."

In September 2018, the Financial Times apologised to Sorrell after featuring him in an article about “disgraced” chief executives.

Headlined ‘Disgraced chief executives reap benefits while investors suffer’, the article was deleted soon after it was published on September 14.

On September 17, the FT published an apology online saying the piece “inaccurately described the circumstances in which Sir Martin Sorrell resigned from WPP."

It added: “We apologise to Sir Martin for any distress caused to him and his family.”

When did Sorrell step down and what is he doing now?

WPP Chief Executive Sir Martin Sorrell stepped down from WPP on Sunday, April 15, following an internal investigation into claims of misconduct.

Sir Martin said WPP had been his passion, but it was in "the best interests of the business" to resign.

The probe into alleged misuse of WPP money - which has strenuously rejected - is over, according to WPP, and no more details were disclosed.

"That is why I have decided that in your interest, in the interest of our clients, in the interest of all share owners, both big and small, and in the interest of all our other stakeholders, it is best for me to step aside."

The insatiable businessman has since announced he is setting up a new advertising agency.

He is taking charge of a shell company, Derriston Capital, which will become a new advertising venture, S4 capital.

Sir Martin said S4 Capital aimed to build a "multi-national communication services business".

What has been alleged since his departure?

Since the investigation was launched, the Wall Street Journal alleged that the probe looked into whether he used company cash to pay for a sex worker.

The Financial Times has also made a number of allegations after speaking to more than 25 individuals who had worked closely with the WPP boss.

They claim that the internal probe was prompted by staff who took their concerns to the chairman, Roberta Quarta.

The FT allegations include two WPP colleagues claiming to have witnessed Sorrell entering a Mayfair address frequented by sex workers.

The article also states that his expenses had previously come under scrutiny by the company; and that he sacked his chauffeur after he refused to start work just five hours after he had finished for the night.

Sir Martin's spokesman responded to the allegations, saying: “Sir Martin signed a non-disclosure agreement when he stepped down which precludes him from discussing any of the circumstances surrounding his departure. He has rigidly adhered to this obligation and will continue to do so.

“As regards the allegations [that company funds were paid to a sex worker], Sir Martin strenuously denies them. He will be making no further comment at this time.”

Who's his wife?

Sorrell is married to Cristiana Falcone, director of media and entertainment industries at the World Economic Forum.

At 43, the impressive businesswoman is three decades his junior.

She gave birth to their first child, Bianca Sorrell, in November 2016.

He was previously married to Sandra Finestone, with whom he has three sons.

Jonathan Sorrell is a president of the Man Group - the world's largest publicly traded hedge fund company.

The three sons followed in their father's footsteps by going to Cambridge University.

MOST READ NEWS

What is his net worth?

One of UK's top-paid executives, his pay package in 2015-16 came to £70m - then the biggest in UK corporate history.

More than a third of investors refused to back the mammoth salary - the seventh year in a row that more than 20 per cent of investors failed to endorse the boss' pay.

Sir Martin has constantly defended his high pay, pointing out that WPP, which he essentially founded in 1985, continues to grow from strength to strength.

As of May 2017, Sorrell's net worth was valued at £495million.

We pay for your stories! Do you have a story for The Sun Online news team? Email us at tips@the-sun.co.uk or call 0207 782 4368 . You can WhatsApp us on 07810 791 502. We pay for videos too. Click here to upload yours.

ncG1vNJzZmivp6x7tbTErKynZpOke7a3jqecsKtfaoZ3g5hxaGilkafBqrqMrKarqpWhuW66xK1ksKeiqbVuw8%2BpZJuno6h8