WPP Accused of 'Sorrell-Centricity' as CEO Wins $65m Pay Deal
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WPP CEO Martin Sorrell saw his controversial 2014 pay deal worth $65 million approved by 77.7% of shareholders at the world’s biggest agency company’s annual general meeting in London today.
The package makes Mr. Sorrell the highest-paid chief executive of any public company in the U.K., according to an independent think tank, the High Pay Centre, which says he earns twice as much as the next highest earner, CEO Ben van Beurden at Royal Dutch Shell, who received $27 million last year.
Mr. Sorrell’s 2014 package includes long and short-term bonuses and pension payments, on top of a $1.76 million salary. Last year, nearly 30% of investors refused to back his more modest $46 million award, but only 19.4% voted against this year’s deal, with less than 3% abstaining.
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