WPP Chief Sorrell Survives Investor Revolt Over Pay Package
- One-third of shareholders object to 70.4 million-pound award
- Advertising chief defends WPP media-buying after criticism
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A protest against WPP Plc Chief Executive Officer Martin Sorrell’s 70.4 million-pound ($102.5 million) pay package lost steam, with about 33 percent of shareholders of the world’s biggest advertising company giving it a thumbs-down.
Sorrell, Britain’s highest-paid CEO, has become the focus of investor concerns over U.K. executives’ pay during the current annual meeting season, in which a majority of shareholders of companies like BP Plc, Smith & Nephew Plc and Paysafe Group Plc have voted against remuneration arrangements.