WPP CEO Martin Sorrell under probe for allegations of personal misconduct

Board looks at personal actions, says amounts 'not material' as CEO rejects accusations, says he understands need for probe

WPP Plc said it’s looking into allegations of personal misconduct by Chief Executive Officer Martin Sorrell involving possible misuse of company assets.

The board of the world’s largest advertising company is investigating the claim, according to a statement Tuesday. The company said the amounts involved aren’t material. In his own statement, Sorrell rejected the allegation while recognizing the company has to investigate.

“Obviously, I shall play no part in the management of the investigation under way,” he said.

The board has hired a law firm to investigate “an allegation of personal misconduct against Sir Martin Sorrell,” according to the statement. The Wall Street