The war between WPP and its founder and former CEO Sir Martin Sorrell continues. WPP revealed in its annual report, released on Thursday (April 29), that it will not pay out two final long-term bonus payments to which Sorrell was entitled after exiting the company in 2018. The company said it withheld the payments because of “disclosure of confidential information” during his time as CEO. Sorrell immediately hit back, accusing WPP of “blind rage” and looking for “an excuse to deny me what’s mine”. The WPP long-term incentive plan, known as the EPSP, paid bonuses in the form of share awards after five years. Sorrell was due two final payments, covering 2016 and 2017.
Agency giant claimed Sorrell was responsible for “disclosure of confidential information” to the media.
by Alison Weissbrot and Gideon Spanier, Campaign
Ex-WPP CEO Martin Sorrell. (Photo credit: Getty Images).
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EXECUTIVE CHANGES: Hunter Eleco s Permanent CEO; 600 Group CFO Leaves
Wed, 10th Feb 2021 15:25
(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Wednesday and not separately reported by Alliance News:
Eleco PLC - construction software firm - Says Jonathan Hunter, who took on the role of interim chief executive back in September, has been appointed CEO on a permanent basis. Hunter was appointed to the board in June 2016, having held a number of senior management positions within Eleco since joining in 2010. He was appointed COO in 2017 prior to his appointment as interim CEO.