Succession plans for Sir Martin Sorrell at S4 Capital

Advertising giant S4 Capital is drawing up succession plans to replace its founder – the legendary Sir Martin Sorrell.

The marketing group is seeking a potential successor just weeks after Sorrell, who is executive chairman, revealed he had keyhole surgery to remove a tumour.

S4 Capital said in its annual report that investors view its success as ‘intrinsically linked’ to Sorrell and added that the firm’s share price and reputation could slide if he were to leave ‘without an effective succession plan’ in place.

Hands on: Sir Martin Sorrell set up S4 Capital in 2018 after leaving WPP, which he also founded

The advertising guru set up S4 Capital in 2018 after leaving WPP, which he also founded, after probes into his conduct.

Earlier this month, Sorrell, 78, said he had made an ‘excellent recovery’ from surgery and will receive ‘preventative treatment over the coming months’.

He said: ‘My doctors have advised me that during this treatment I should be able to work as normal most of the time, although I have also decided to reduce my travel schedule for a few weeks. Otherwise, business as usual.’

S4C – whose clients include Facebook, Google, Diageo and TikTok – recently reported turnover of more than £1 billion for the first time.

The business has grown rapidly through a series of takeovers of smaller rivals.

Its share price has plunged by more than 50 per cent over the past year. The firm, which focuses on digital advertising, is now worth £840 million.