S4 Capital Begins Succession Planning for Sorrell

Digital advertising, marketing and technology services company S4 Capital is working on a succession plan for its founder and Executive Chairman Sir Martin Sorrell.

Sorrell (pictured) formed S4 Capital in May 2018 after he left WPP following allegations of personal misconduct and misuse of company assets, which he denied. In March, S4 Capital reported full-year revenues of more than £1 billion for the first time.

Then in April, it announced that 78-year-old Sorrell is undergoing 'further preventative treatment' following keyhole surgery in February to remove a tumour. In a memo sent to staff, Sorrell announced he would be having this treatment over the coming months, and that his doctors had advised him that during this time, he should be able to work as normal, while reducing his travel schedule for a few weeks.

In its recently released 2022 annual report, S4 Capital said that as market views of the group's success are 'intrinsically linked' with Sorrell, should he not be part of the group without an effective succession plan, it could have a 'significant impact' on the group's share price. However, while the succession plan is being drawn up, there is no indication in the annual report that Sorrell is intending to retire any time soon.

Web site: www.s4capital.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.