WPP shares fall 4 percent as founder Sorrell quits

FILE PHOTO: Martin Sorrell, chairman and chief executive officer of WPP, the world's largest advertising company, speaks at the Confederation of British Industry's (CBI) annual conference in London, Britain November 21, 2016. REUTERS/Stefan Wermuth/File Photo

LONDON (Reuters) - Shares in WPP fell 4 percent at the open on Monday after Chief Executive and founder Martin Sorrell quit, leaving the group without a boss at a time of huge change in the industry.

Shares in the group, which are already down 30 percent this year, were down 4 percent at 0703 GMT. Analysts and peers have speculated that the group of 200,000 people could be broken up without Sorrell at the helm.

(Reporting by Kate Holton; editing by Sarah Young)

You may also interested in

Boston building with Citgo sign sold;...

Aug 12, 2016

A building that hosts Boston's iconic Citgo sign has been sold to a local developer known for being...

Great Lakes no help for a struggling Trump on...

Aug 15, 2016

Donald Trump needs a place to reset the electoral map, and he seems to be looking at the industrial...

Prosecutor: Russian man's computer linked to...

Aug 16, 2016

A federal prosecutor told the jury during opening statements on Monday that when federal agents...

Southern California fire burns at least a dozen...

Aug 17, 2016

A wildfire broke out Tuesday and spread at a staggering pace in every direction through...

Google's search engine directs voters to the...

Aug 16, 2016

Google is pulling another lever on its influential search engine in an effort to boost voter...

The Next Daily is the new generation of online publication, serving you the most recent discoveries made in science and technology on a daily basis. At The Next Daily, we believe in the power of consistent and reliable reporting to inspire and move mankind forward.

Contact us: sales[at]thenextdaily.com