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Tuesday, April 17, 2018

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Ratings agency moves outlook from ‘stable’ to ‘negative’ as board starts search for new CEO

Sir Martin’s Sorrell’s departure from WPP has prompted the leading ratings agency Moody’s to downgrade its outlook for the group, citing concerns including a break-up, the loss of clients and its poor performance compared with rivals.

The downgrade, from “stable” to “negative”, comes as WPP’s 11-strong board was set to meet on Tuesday with the task of finding Sorrell’s successor high on the agenda.

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Related: Martin Sorrell's exit leaves too many unanswered questions

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