Sir Martin Sorrell will have control of board appointments and deals in his new venture, giving him more power than he held at WPP before his controversial departure.
The veteran advertising executive stunned the market yesterday with plans to launch a rapid return only six weeks after he resigned from WPP in the wake of an investigation into allegations of personal misconduct and abuse of company assets, which he denies.
Sir Martin, 73, has put £40 million of his wealth into S4 Capital, incorporated in Jersey on May 22, and raised £11 million from investors, including existing WPP shareholders, such as Schroders.
The venture is set to be launched through a reverse takeover by Derriston Capital, a cash shell listed on the stock market in
