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Sir Martin Sorrell steps down as WPP CEO

Photo by Francois G. Durand/Getty Images

Sir Martin Sorrell has resigned as CEO of WPP, one of the largest advertising and public relations companies in the world, the company said on Saturday.

Why it matters: Sorrell is considered one of the most influential people in media, advertising and marketing. But he recently faced a board investigation into his behavior (with no material conclusions) and has faced headwinds trying to navigate his company through a grim advertising marketplace.