{"id":4668,"date":"2023-10-23T17:36:50","date_gmt":"2023-10-23T17:36:50","guid":{"rendered":"https:\/\/infundpros.com\/business\/wpp-owned-media-agency-sacks-shanghai-based-executive-facing-bribery-claims\/"},"modified":"2023-10-23T17:36:50","modified_gmt":"2023-10-23T17:36:50","slug":"wpp-owned-media-agency-sacks-shanghai-based-executive-facing-bribery-claims","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=4668","title":{"rendered":"WPP-owned media agency sacks Shanghai-based executive facing bribery claims"},"content":{"rendered":"<div>\n<p>Stay informed with free updates<\/p>\n<p class=\"article__content-sign-up-topic-description\"><span>Simply sign up to the <!-- -->Chinese politics &amp; policy<!-- --> myFT Digest &#8212; delivered directly to your inbox.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=216f8629-13ed-4fe0-a04c-0e84494d313c&amp;concept-id=02249f44-ac1f-48d6-bba5-820471c18ca5\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>WPP-owned media agency GroupM has sacked a senior Shanghai-based executive after Chinese police detained the high-ranking employee on suspicion of bribery last week. <\/p>\n<p>WPP, the world\u2019s biggest advertising group, on Monday said it was \u201cterminating the executive\u2019s employment with the company, and GroupM is suspending trade with any external organisation we understand to be part of the police inquiries\u201d.<\/p>\n<p>The dismissal of the GroupM executive follows an announcement by the Shanghai Public Security Bureau\u2019s economic crime investigation department on Saturday that it had \u201ccracked\u201d a commercial bribery case involving an advertising company.<\/p>\n<p>The statement by Chinese law enforcement did not name the company but said an executive currently serving at the ad agency and two former employees had been detained. Last Friday, the Financial Times reported police had raided GroupM\u2019s Shanghai offices. <\/p>\n<p>WPP on Monday said it was \u201cco-operating with the authorities and conducting our own investigation with an independent third party\u201d, noting it could not comment further on an \u201cactive police investigation\u201d. <\/p>\n<p>\u201cWe are absolutely committed to behaving in accordance with the law and our own code of conduct, and will take all necessary action to ensure this is the case within our business,\u201d the ad group said. <\/p>\n<p>GroupM, WPP\u2019s media planning and buying arms, accounts for roughly a third of the London-listed ad group\u2019s \u00a314bn of annual revenue, employing 42,000 staff globally and deploying $60bn worth of advertising investment. <\/p>\n<p>China, WPP\u2019s fourth-largest market, is an increasingly important region for ad groups. In the three months to June 30, revenues from the country grew by 4.8 per cent across the company, helping to offset a fall in US revenues, as ad spending bounced back after Beijing\u2019s strict Covid-19 lockdowns \u201calbeit at a slower pace than anticipated\u201d. <\/p>\n<p>The investigation involving GroupM current and former executives comes amid increasing pressure from the Chinese government on foreign companies, as diplomatic tensions between Washington and Beijing escalate.<\/p>\n<p>Earlier this year, Chinese authorities visited the Shanghai offices of management consulting firm Bain &amp; Company, removing computers and phones as part of a probe. Five Beijing-based employees of US due diligence firm Mintz Group were also detained earlier this year. <\/p>\n<p>The repeated moves against private companies in China and an opaque judicial system have raised concerns in the foreign business community. Several surveys by foreign chambers of commerce indicated business confidence was very low.<\/p>\n<p>As part of the GroupM raid last week, Chinese police also spoke to other local executives including Patrick Xu, GroupM\u2019s chief executive for China since 2017 and WPP\u2019s China manager, said people briefed on the situation. <\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/216f8629-13ed-4fe0-a04c-0e84494d313c\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stay informed with free updates Simply sign up to the Chinese politics &amp; policy myFT Digest &#8212; delivered directly to your inbox&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-4668","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>WPP-owned media agency sacks Shanghai-based executive facing bribery claims | inFundPros<\/title>\n<meta name=\"description\" content=\"Stay informed with free updatesSimply sign up to the Chinese politics &amp; 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