Naguib Sawiris, chairman and chief executive officer of Orascom Telecom Media and Technology Holding.

Diego Levy/Bloomberg/Getty Images

Naguib Sawiris, chairman and chief executive officer of Orascom Telecom Media and Technology Holding.

Sorrell, credited for turning WPP into the world’s biggest advertising agency, quit on Saturday amid allegations of personal misconduct. In a statement, the 73 year-old businessman said, “WPP is not just a matter of life or death, it was, is and will be more important than that.”

Chairman Roberto Quarta will take on the role of executive chairman until a new CEO is found.

“I hope that his legacy doesn’t fall by this disruption,” Sawiris said, adding that he believed WPP should consult Sorrell on choosing the next CEO. If a successor is chosen abruptly, that could be “very dangerous,” the Egyptian billionaire cautioned.

During his three decades in the industry, Sorrell developed a reputation for strong opinions and an autocratic management style.

Source

NO COMMENTS

LEAVE A REPLY

sixteen + 16 =