New York — Martin Sorrell spent the past three decades building an obscure maker of wire baskets into a global advertising powerhouse, earning millions and a knighthood from Queen Elizabeth along the way. His downfall was far swifter. Sorrell, 73, said late on Saturday that he would resign from his position as chief executive office of WPP Plc with immediate effect. His departure followed allegations of personal misconduct and misuse of company assets, and comes days before the board was set to publish the findings of an investigation. Sorrell has denied any wrongdoing. The WPP chief was the de facto elder statesman of the ad industry and a figurehead of corporate Britain, appearing regularly in public to discuss issues from Brexit to Donald Trump’s trade wars to the rise of Facebook   and Google. He also courted controversy with his pugnacious manner and inflated pay package, particularly at a time when WPP’s revenue stalled. In a statement to WPP employees, Sorrell said the curren...

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