A third of investors in Sir Martin Sorrell’s advertising giant WPP voted against his £70 million pay package at its shareholder meeting yesterday.
WPP saw 33.4 per cent of investor votes cast against its remuneration report at the annual general meeting (AGM) in London amid concerns over the boss’s pay package, which had been branded “excessive” and “unacceptable” by a raft of shareholder groups and major investors.
READ MORE: WPP boss Sorrell pockets £43m in bumper pay
The package includes a £1.15 million base salary and £62.8m in shares from a long-term incentive plan.
Sorrell has said the scheme reflects his firm’s rapid and profitable growth in recent years. WPP said yesterday that in the first four months of 2016 progress was “well above budget”.