Succession plans for Sir Martin Sorrell at S4 Capital

Advertising giant S4 Capital is preparing succession plans to replace its founder, the legendary Sir Martin Sorrell.

The marketing group is looking for a potential successor just weeks after Sorrell, who serves as executive chairman, revealed he had exploratory surgery to remove a tumour.

S4 Capital said in its annual report that investors view its success as “intrinsically tied” to Sorrell, adding that the company’s share price and reputation could fall if he left “without an effective succession plan.”

The advertising guru founded S4 Capital in 2018 after leaving WPP, which he also founded, following an investigation into his conduct.

Earlier this month, Sorrell, 78, said he had made an “excellent recovery” from surgery and “will receive preventative treatment in the coming months.”

He said: ‘My doctors have advised me that I should be able to work normally most of the time during this treatment, although I have also decided to reduce my travel schedule for a few weeks. Further business as usual.’

S4C – with clients including Facebook, Google, Diageo and TikTok – recently reported a turnover of more than £1 billion for the first time.

The company has grown rapidly through a series of acquisitions of smaller rivals.

The share price has fallen by more than 50 percent in the past year. The company, which focuses on digital advertising, is now worth £840 million.