The chairman of WPP WPP 0.72% PLC is pushing for an overhaul of the world’s biggest advertising conglomerate now that Martin Sorrell, its architect, has left the firm. Mr. Quarta said he currently has a dozen candidates to succeed Mr. Sorrell and will winnow that number down further before presenting the candidates to the board. For years, Mr. Sorrell was among the U.K.’s best paid executives, receiving £70.4 million in 2015 and £48.1 million in 2016. At the time, WPP said Mr. Sorrell’s pay was commensurate reward for masterminding acquisitions. After Mr. Sorrell left, management teams told Mr. Quarta the strategy wasn’t working, in part because they weren’t incentivized to share the same goals.

Source: Wall Street Journal June 07, 2018 21:27 UTC