“I leave the company in very good hands, as the Board knows. Mark and Andrew and the management team at all levels have the knowledge and abilities to take WPP to even greater heights and capitalise on the geographic and functional opportunities. I will particularly miss the daily interactions with everyone across the world and want to thank them and their families for all they have done, and will do, for WPP.”

In addition to the official statement, Sorrell also issued a note to WPP’s employees, which number more than 200,000 globally. In it, he outlined WPP’s achievements over the past more than three decades.

Sorrell will remain with WPP to help with the transition and pending the confirmation of his successor. After that, he will retire with his shares vesting over the next five years, dependent on WPP’s performance.

“I shall miss all of you greatly. You have given me such excitement and energy and I wanted to thank you for everything you have done and will do for WPP and me. As some of you know, my family has expanded recently, WPP will always be my baby too,” he said in the note.

“As a founder, I can say that WPP is not just a matter of life or death, it was, is and will be more important than that. Good fortune and Godspeed to all of you…now Back to the Future,” Sorrell wrote.

Sourced through Scoop.it from: www.marketingweek.com