WPP’s fall from holdco supremacy has been apparent for a while. But newly revealed accounts from insiders lay out, in granular detail, exactly how it happened.
Before diving into those accounts it’s worth framing them properly. They come from exhibits filed as part of the amended complaint in the wrongful termination lawsuit brought by former WPP exec Richard Foster, who alleges he was retaliated against and fired after raising concerns that the group’ s media investment arm was running an improper kickback operation. As part of the filings, 13 former WPP executives were interviewed.
WPP did not address the specific allegations but did email over a statement on the updated complaint from Foster’s legal team, which includes new allegations about the holdco’s principal media practices: “This amended complaint, filed just prior to the hearing, is an attempt to avoid its dismissal. Both complaints are baseless and without merit, and WPP will be re-filing an updated motion to dismiss. We have confidence that this matter will be resolved through due legal process.”
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