WPP fires executive arrested in China on corruption charges
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The British holding WPP fired one of the executives of GroupM, a media agency in China owned by WPP, reports CNN.
Last Friday it became known that Chinese authorities had raided the offices of GroupM and detained one of its executives and two former employees. All of them are suspected of receiving bribes between 2019 and 2023. At the same time, the police also questioned GroupM CEO Patrick Xu, but he was ultimately not detained.
“We are removing the executive from the company and GroupM is suspending trading with any external entity that we understand may be the subject of a police investigation,” CNN quoted WPP as saying. In addition, the holding promised to cooperate with the investigation, refusing to disclose details of the case.
This weekend, several investigations conducted by Chinese authorities against foreign companies became known. Among them is an investigation into a Taiwanese company Foxconn – the world’s largest iPhone manufacturer. The formal reason was the authorities’ suspicions about the company’s tax fraud and doubts about the fair use of land.
About the investigation launched in China against Foxconn – in the material “Second Chinese Warning”.
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