Just 6 weeks after he was ousted as CEO of WPP, Sir Martin Sorrell is returning to the ad world at the helm of an investment firm Derriston Capital. Sorrell will become executive chairman of Derriston Capital, which is set to acquire company S4 Capital.
The S4 Capital brand will then replace the Derriston, with Sorrell himself backing the venture with £40m ($53m) of his own money alongside other high profile financial interests. The report further speculates that the newly formed group will expand through acquisition.
In a statement, Sorrell said: “S4 Capital is a company that aims to build a multi-national communication services business focused on growth. There are significant opportunities for development in technology, data and content. I look forward to making this happen.”
Sorrell will own 75% of Derriston/S4 Capital after the reverse merger, and there are already speculations of intended future acquisitions, one of which could potentially be Kantar, market research agency owned by WPP, according to French newspaper Les Echos.
