Wpp's Boss: From Buccaneer To Builder

Ex-bad boy Martin Sorrell has WPP's debt down and stock up

Martin S. Sorrell is in a reflective mood. The chief executive of ad conglomerate WPP Group seems satisfied over the recovery of his company, but he's not gloating. Instead, he is preaching the need for prudence in an industry he predicts is headed for another wrenching shakeout. Says Sorrell: "Having gone through what we went through in the late '80s and early '90s makes us much more cautious."

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