Sir Martin Sorrell fires back at Singo saying he should have stuck with STW
Sorrell says Singo and Tate are “rewriting history”
WPP chief executive Sir Martin Sorrell has returned fire after former Australian business partner John Singleton accused him of not caring enough about the businesses operations in Australia when the two teamed up to rescue J Walter Thompson, accusing him of “rewriting history”.
Speaking after the historic merger, where WPP and STW Group was given the go-ahead by shareholders this week, Singleton told Mumbrella that with the help of his righthand man, Russell Tate, STW had rescued the JWT business, only for WPP to “un-rescue it” with the imposition of a “crook” management contract.
Singleton, who sold his final stake in STW a decade ago, said: “they fucked it”.
In this weeks episode of “Old men fighting over things that are now irrelevant”
“Both John and Russell did a great job and it’s a pity they didn’t stick at it.” Not sure I would qualify this as ‘firing back’!
… Hahahaha
The $52.6M loss reported by STW has been all but forgotten in this “good news” story – merger puts a band aid on a gangrenous limb. Still rotten!