WPP Investors Vote Against Pay Package of CEO Martin Sorrell
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WPP Plc investors voted against the remuneration packages of directors, including Chief Executive Officer Martin Sorrell, as the the revolt over executive pay spread to the world’s biggest advertising agency.
In a non-binding vote today, 60 percent of investors in WPP voted against the proposed pay, which included a 56 percent increase for Sorrell. The company will now approach shareholders to discuss options, which may include changes to performance targets, and reconcile the two sides, said one person with knowledge of the matter, declining to be named as the plan is not public.