Advertising giant S4 Capital is drawing up succession plans to replace its founder – the legendary Sir Martin Sorrell
Advertising giant S4 Capital is drawing up succession plans to replace its founder, the legendary Sir Martin Sorrell.
The marketing group is looking for a potential successor just weeks after Sorrell, who is the executive chairman, revealed he had undergone surgery to remove a tumor.
S4 Capital said in its annual report that investors view his success as “intrinsically linked” to Sorrell and added that the company’s share price and reputation could plummet if he left “without a succession plan. effective” in place.
Hands-on: Sir Martin Sorrell set up S4 Capital in 2018 after leaving WPP, which he also founded
The advertising guru set up S4 Capital in 2018 after leaving WPP, which he also founded, after inquiries into his conduct.
Earlier this month, Sorrell, 78, said he had made an “excellent recovery” from surgery and would be receiving “preventative treatment over the next few months”.
He said: “My doctors advised me to be able to work normally most of the time during this treatment, although I have also decided to reduce my travel schedule for a few weeks.” Otherwise, as usual.
S4C – whose clients include Facebook, Google, Diageo and TikTok – recently announced a turnover of over £1bn for the first time.
The company grew rapidly through a series of takeovers from smaller rivals.
Its stock price has fallen more than 50% in the past year. The business, which focuses on digital advertising, is now worth £840million.