The guy sitting atop the world’s largest advertising group has resigned.

Martin Sorrell, Chief Executive at WPP is out.  While he gets to retire (albeit it immediately) and keep his vested shares, he’s stepping down amid rumors of personal misconduct and misappropriation of company assets.

“The previously announced investigation into an allegation of misconduct against Sir Martin has concluded,” the company said in a statement “The allegation did not involve amounts that are material.”

PHOTO via Wikipedia:  Martin Sorrell – World Economic Forum Annual Meeting Davos 2010 crop