Sir Martin Sorrell quits £48million-a-year WPP job amid cash misconduct claims

Details were not made public but a source at his WPP firm said the claims were “very personally damaging” to married Sir Martin.

The mogul, 73, wrote to staff: “The disruption is putting unnecessary pressure on the business. It’s best for me to step aside.

“I’m sad to leave WPP after 33 years.”

The ad giant began probing alleged personal misconduct via misuse of company funds after a whistle-blower’s tip-off.

But it has now said: “The investigation into a misconduct allegation has concluded. De- tails will not be made public.”

It dismissed the sum involved as “peanuts”.

WPP will treat the tycoon, who formed it in 1985 and is worth £495million, as having retired.  That means he leaves with a full pension and perks, including £200million shares.

His spokesman said Sir Martin was never formally told the claims against him but denied misconduct.

WPP ran campaigns for some of the world’s top firms, including Marks & Spencer, Ford and Unilever.

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