Some see Sorrell as a victim of the times and his departure a result of the board’s desire for a fresh face at the helm. The ad firm warned in March that 2018 would be a rough year and that 2017 was “not pretty.” The stock suspended trading on March 1 because it fell 15 percent in one day after it warned 2018 would show little to no growth.
Medialink chief executive Michael Kassan, an industry consultant to media and marketing firms, said the change would cause ripples throughout the marketing business.
“I believe we are at a tipping point,” Kassan said. “It is a time when industry models are being challenged. You have always been able to count on Martin to have the fortitude to plough through.