Career History

WPP

In 1985, Sorrell privately invested in Wire Plastic Products, a British wire shopping cart manufacturer, and joined it full-time as Chief Executive in 1986. He began to acquire "below-the-line" advertising-related companies, purchasing 18 in three years, including in 1987 when he stunned the agency world with a $566 million "hostile" takeover of J. Walter Thompson. Sorrell followed this in 1989 with another dramatic hostile $825 million buy of Ogilvy and Mather.

WPP is regarded as the driving force for the period of consolidation which has been going on within the communications industry for the last ten - fifteen years. His WPP group has amassed the largest media buying group in the world, GroupM. Together with the giant creative agency networks, JWT and Ogilvy and Mather, WPP is one of the four major players in the global advertising market.

WPP’s stock price soared and although the company then went through difficult times, during which it was on the verge of collapse, Sorrell’s determination and business acumen brought it around^[3].

WPP has become one of the world's leading communications services and advertising companies valued by the UK stockmarket at £7.5 billion. With billings of £15 billion and revenues of £3.5 billion, WPP's 70 operating companies provide national, multi-national and global clients with advertising, media investment management, information and consultancy, public relations and public affairs, branding and identity, healthcare and specialist communications services. WPP employs 65,000 people in 950 offices in 92 countries. He owns a substantial stake in the company through a series of pay awards and his own purchases of shares. Until recently he had never before sold shares in the company; his shares are worth around £95 million.

Sorrell himself is widely respected throughout the advertising industry, with his words being scrutinised and quoted by many within the marketing sector. Many industry observers credit him with the fact that the UK still has an independent, vibrant communications industry. His famed remark that the advertising recession in the early part of this decade was "bath shaped" was one of the most repeated quotes in the 2003 - 2004 period.

A chapter length study of Sorrell’s career and his leadership style, including views on life, business and leadership, is included in Steve Tappin's book The Secrets of CEOs

Why is he Influential?

- he's wealthy- money=power
- advertising subliminally persuades or attempts to sway the views of the audience, thus suggesting he has a huge impact on peoples views and how they consume.
- well educated- Cambridge and Harvard- well respected....people listen to what he has to say because they believe his words are authentic.
-he's the boss
-contributes to the economy
-people aspire to be like him
-control and dominance- "Sir Martin Sorrell tells ITV not to cut programme budgets"



Other interests

In 1997, he was appointed an Ambassador for British Business by the Foreign and Commonwealth Office and subsequently appointed to the Office's Panel 2000 aimed at rebranding Britain abroad. In 1999 he was appointed by the Secretary of State for Education and Employment to serve on the Council for Excellence in Management and Leadership and this year was appointed a member of the Committee for the Special Olympics, serving on the Board.

He is Deputy Chairman and Governor of London Business School, a member of the Advisory Boards of both the Judge Business School in Cambridge, UK and IESE in Spain and a member of the Dean's Advisory Council for Boston University. He is also Chairman of the Global Advisory Board of the Centre for International Business and Management (CIBAM), at the University of Cambridge, UK^[5]. In 1998, he was appointed to the Board of Directors of Associates of Harvard Business School and to the Board of the Indian School of Business^[6].

He was Knighted in the Millennium New Year Honours list.

Job: group chief executive, WPP
Age: 63
Industry: advertising, marketing
Turnover: £6.19bn
Staff: 110,000 (including associates)
Salary: £3.57m (including £1.65m bonus)
Worth: £106m
2007 ranking: 43

Sir Martin Sorrell built one of the world's largest advertising companies from scratch.

WPP employs 110,000 people in more than 100 countries, and is home to ad agencies JWT and Ogilvy & Mather, buyers Mediacom and Tempus, and PR firms Finsbury and Hill & Knowlton.

He is regularly described as the world's most influential ad man, and when he talks, people listen.

Sir Martin Sorrell. Photograph: Martin Argles His efforts to expand his vast company still further with the acquisition of market research business Taylor Nelson Sofres have been frustrated. But don't expect Sorrell to give up without a fight.

Sorrell has made three approaches to TNS, but was rebuffed on each occasion. TNS would prefer a merger with Sorrell's German rival GfK, much to the WPP chief executive's chagrin.

"He is the only proper global media player the UK has," said one member of our panel. "He is of international importance. With one of the biggest advertising companies in the world, Sir Martin Sorrell has huge clout."

It is now 23 years since Sorrell left Saatchi & Saatchi to buy wire basket maker Wire & Plastic Products. It has since been transformed into a marketing services empire.

Sorrell's opinions have huge weight, even more so in a time of economic gloom.

"I am still not sure there will be a recession in the US and I definitely don't think worldwide," said Sorrell, who expected 2008 to be buoyed by the triple effect of the US presidential election, Euro 2008 and the Olympics.

"At some point in time the rubber has to hit the road with increased oil prices and commodity prices, and our thesis - it might be wrong - is this is more likely to happen in 2009 than 2008," Sorrell told the Guardian. He has said he expects things to pick up again in 2010.

WPP reported profit before tax up 5.5% to £719m last year, on the back of turnover of £6.19bn.

Now 63, is it time for the WPP chief executive to hand over to the social networking generation? "As long as the old farts at the top of the company don't prevent change it's fine," he said.

The old fart is certainly well rewarded, and he is estimated to be worth £106m. Is he worth it? "I am not saying that - that's for others to judge. If I am not, they will say cheerio." Don't expect him to say goodbye for a little while yet.

Sorrell began his career working for Mark McCormack, the founder of talent agency IMG. He joined Saatchi & Saatchi in 1977 and was knighted in 1999.