WPP to Leave Mayfair HQ after More Than 30 Years

WPP has announced it is moving out of its Farm Street, Mayfair corporate headquarters after more than 30 years, following the sudden departure of founder Sir Martin Sorrell back in April.

Sorrell left the business four months ago amid claims of possible misuse of company assets and of 'personal misconduct'. He has since set up a new investment vehicle called S4 Capital and beaten WPP in a race to buy Dutch creative digital production company MediaMonks.

Shortly after becoming WPP CEO in 1987, Sorrell took over the 27 Farm Street mews building, which has remained WPP's HQ and currently houses around 30 WPP staff overseeing finance, legal, property, M&A and communications. In a memo to staff, co-COOs Mark Read and Andrew Scott said the business would be moving its headquarters to a new location, still to be determined.

Read and Scott say their ambition is for all parent company staff to be accommodated together at some point, but that this isn't feasible in the short term. 'We are reviewing our working environment to make it fit for purpose and ready for our new requirements and, specifically, to create a more modern and attractive office that is better suited to more collaborative ways of working', the pair said in the memo.

Web site: www.wpp.com .