The sensible way to effect CEO change at WPP (LON:WPP)is for the new man to work alongside Sir Martin Sorrell for several months since Sir Martin has developed this very extensive machine at a very personal level. It’s the only chance of intimate control being passed on.
However, it seems that Sir Martin is now to flounce out and the new man will have to cope with little or no assistance at all. The result is likely to be a disaster. This being the case I would not want to hold the shares despite their having fallen 35% in the past year.
It is also reported that Sir Martin is not subject to a “non-compete” clause on his departure. These clauses are not easily drafted but it is pretty astonishing that such a void has arisen.
The price this morning is £11.68.
Orosur (LON:OMI)has reported indifferent figures this morning but emphasises the encouraging outlook in Colombia. I suppose it is a buy at 7p.
The senators’ grilling (or so they imagined their conduct) of Mark Zuckerberg struck me as bludgeoning and silly, particularly Diane Feinstein, the irritant from California and cause of much of the delay at Cadiz. She is a human foghorn.
Good old Corbyn, he’s true to form in supporting the country’s opposition. He wanted and wants a long discussion in public as to Britain’s military intentions to achieve, as he claims, justice. He does not mind risking the lives of British service personnel. They’re not Russian or Iranian or whatever and therefore do not count.
Sport: I’m afraid that Anibale Fly got badly hampered at the first fence of the Grand National which tempts me to wonder whether he would have otherwise won. This is idle speculation if not entirely absurd.
Elsewhere, my brother, Tim, has just published a book covering the last days of the 2017 County championship. It is called Compleat Cricket(eight days in September)and to hand on Amazon for c. £8. It is produced to a high standard and aimed at serious cricket enthusiasts. Tim loves cricket and this shines through.