However, WPP – which saw a third of shareholders oppose Sorrell’s £70m payout for 2015 at last year’s AGM, one of the biggest pay deals in UK corporate history – is set to announce that it will cut Sorrell’s maximum pay package to closer to £15m. This year’s annual meeting, to be held in June, will include a binding vote on WPP’s pay policy over the next three years. Read moreIn December, the chair of WPP’s pay committee told MPs that Sorrell was not on a “superstar” salary but that he has been “rewarded very highly” for driving the WPP business. In 2012, during what became known as the shareholder spring, nearly 60% of investors rejected his annual package for the previous year. Last year, Sorrell defended his pay package, arguing that he had put three decades of his life into building WPP from a maker of wire baskets into a £22bn global marketing business.

Source: The Guardian April 27, 2017 20:03 UTC