WPP makes Mark Reed CEO. Surprise, surprise, his predecessor Sir Martin Sorrell has something to say about that

Former WPP boss Sir Martin Sorrell was quick to opine upon the company's appointment of his successor ( PA )

Sir Martin Sorrell lost no time in making his feelings known after ad giant WPP confirmed Mark Reed as his successor. 

The former WPP boss told Campaign that the search the company conducted for his replacement had been a “complete waste of time” and that it should be run by a twosome of Mr Reed and Andrew Scott, who was confirmed in the role of chief operating officer, making him the de facto number two. 

The pair had been running it that way as joint chief operating officers under Robert Quarta, who temporarily stepped up to become executive chairman in the wake of the turmoil created by Sir Martin’s abrupt departure in the midst of a misconduct investigation. 

But the co-CEO model rarely works well in the long term, which is why most companies prefer to know who’s boss, as was certainly the case when Sir Martin was running the show.

The fact of the matter is that he wasn’t likely to be happy whatever the decision. Relations between the company and its former leader are at a low point. 

Since his exit, Sir Martin has criticised the board, complained about his treatment, and strongly denied the lurid allegations that have been levelled against him. 

His latest intervention - after having written to the two men to congratulate them on their respective roles - can hardly have surprised anyone there, and certainly not Mr Reed. 

I imagine he’ll take any future advice from Sir Martin, and it’s surely coming, with a pinch of salt. 

This is his show now, and his first priority will doubtless be to attack the challenges WPP faces, which are considerable at a time when just about every media business you’d care to mention is grappling with the disruptive impact of the ongoing digital revolution. 

That’s what most of his shareholders would like him to focus on. 

If he can do so successfully he’ll earn a boat load of money, up to £7m a year with a bonus plan worth up to six times his £975,000 annual salary. 

Heady stuff, but it’s less than the maximum allowable under the company’s pay policy, and represents a mere tenth of Sir Martin’s package at its peak in 2015 and just half the £14m the latter received for 2017. 

There is also a non compete clause in his contract, which was controversially absent from Sir Martin’s, allowing the 73-year-old to set up a rival, S4 Capital, following his departure. 

That, and the end of the megabucks era at the company, are solidly in the interests of WPP’s investors, one of whom, of course, is Sir Martin.