LONDON (Reuters) - The chairman of the world's biggest advertising group WPP (L:WPP) said the company had not disclosed more about its investigation into former CEO Martin Sorrell's personal misconduct because he resigned before that became necessary.
"Martin decided to resign before the board had taken into consideration the outcome of the investigation and determined whether or not it was appropriate to take action," Chairman Roberto Quarta told a first-quarter results conference for analysts on Monday.
Sorrell, the driving force behind 33 years of dealmaking and relentless expansion at WPP, stepped down earlier in April after the board investigated an allegation of misconduct.
"The matter...was really what we consider to be a matter of privacy and therefore is a matter for Martin and hence the reason why we did not disclose," Quarta added.