- The 73-year-old media mogul’s new company is called S4 Capital
- Talking about the firm, he said: ‘I’ll have a five to seven-year bite at the cherry’
- Sorrell is currently under fire for allegedly using company cash for a prostitute
Sir Martin Sorrell says he could carry on working at his new venture into his 80s
Sir Martin Sorrell says he could carry on working at his new venture into his 80s.
The 73-year-old media mogul, who denies allegations that he used a prostitute paid with money from his former firm WPP, said he would work at his new company, S4 Capital, for up to seven years, which would take him into his ninth decade.
But he came under further pressure last night as the chairwoman of the Business Select Committee urged him to explain his mysterious departure in April from WPP, the advertising giant he founded 33 years ago.
Sorrell has signed a gagging deal with his former company, but Labour MP Rachel Reeves told The Mail on Sunday: ‘To clear up this mess and to assure shareholders that the board is carrying out its responsibilities properly, Sir Martin and WPP should waive their agreement and come clean on what happened.’
Speaking about his new role at S4 at a conference in Canada, he said: ‘I’ll probably have a five to seven-year bite at the cherry.’
The Wall Street Journal reported allegations that Sorrell, who has been married to his second wife Cristiana since 2008, used company money to pay for a prostitute. He denies the claim.
WPP has not revealed details of the allegations, saying that it would be illegal to do so.