Speaking at the Techonomy Conference in New York today, Sorrell firmly said he would “start again”, adding: “I’m not going into voluntary or involuntary retirement. I love the industry.”
Sorrell stood down as chief executive of the world’s biggest advertising group after 33 years in April following a company investigation into undisclosed allegations of personal misconduct, which he denies.
WPP did not enforce a “no compete” agreement with Sorrell when he left the company, meaning there’s nothing stopping him from setting up a rival firm to take on the business which he built over three decades.
But Sorrell would not comment on whether he was raising money for a new enterprise, or looking to buy a shell company to build a new business from.