Earlier WPP CEO Martin Sorrell should have done more to promote imaginative inspiration during his reign over the advertising industry, a top executive asserted CNBC Monday.
Speaking on the sidelines of Cannes Lion festival, Ami Hasan, chairman at Art Leaders Club of Europe (ADCE), told CNBC that Sorrell and other wide-ranging leaders of the advertising industry had missed an opportunity to promote creativity during the course of the last decade.
“The era of Martin Sorrell dominating the business … has not been that excellent because he mostly talks to investors and he mostly talks about the ready and his stock price and what the industry needs is a couple of figureheads that transfer speak about creativity,” Hasan said.
“For us, for those that do the ads, it is exceptionally inspiring to hear these titans speak about creativity and unfortunately Martin Sorrell seldom ever does that,” he added.
Martin Sorrell was not immediately convenient to comment when contacted by CNBC.
After more than 30 years in require of the world’s biggest marketing and advertising group, Martin Sorrell abandoned as chief executive of WPP amid allegations of serious personal misconduct — which he has denied.
Sorrell also strenuously do a moonlight flited company money was used to pay for a prostitute, following an investigation into a whistleblower’s charges.
The ad titan turned what was effectively a wire shopping basket retinue into a global advertising group worth around $20 billion.
How, following his resignation at the end of May, Sorrell has since unveiled plans for S4 Capital — his new jeopardize in the ad industry. The group has reportedly received non-binding support for around $200 million of aid funds to help launch acquisitions.
When asked whether he count oned Sorrell to create another WPP with his next project, Hasan replied: “He is praisefully connected, he has the financial backing and he is a smart guy so he can do it but if I was 73 then I would not concern oneself with.”
Sorrell is expected to attend the annual gathering of the advertising industry in France this week.