Martin Sorrell , the 73-year - old founder of advertising giant WPP , has stepped down as CEO amid an investigation into an allegation of personal misconduct . WPP said the details of the internal probe would remain confidential . Martin , who founded the world 's largest advertising firm three decades ago , denies the allegations but said the situation was " “ too much unnecessary pressure on the business ” . WPP stock has fallen by a third in the past year . Roberto Quarta , WPP chairman , will remain as executive chairman until a new CEO is appointed .
Martin Sorrell, the 73-year-old founder of advertising giant WPP, has stepped down as CEO amid an investigation into an allegation of personal misconduct. WPP said the findings of the internal probe would remain confidential. Sorrell, who founded the world's largest advertising firm three decades ago, denies the allegations but said the situation was placing “too much unnecessary pressure on the business”. WPP stock has fallen by a third in the past year. Roberto Quarta, WPP chairman, will serve as executive chairman until a new CEO is appointed.