WPP CEO Handily Survives Vote on $50 Million Pay Package


WPP CEO Martin Sorrell handily survived another shareholder vote on his $50 million pay package at the communications group’s annual general meeting in London today, where 16% of votes opposed his package and another 11% abstained.

Efforts to reduce Mr. Sorrell’s pay seem to be receding into the past. The vote was similar to last year. The CEO also again won a resounding personal vote of confidence with 99.81% re-electing him as a director of the company, roughly even with last year, when the proportion was 99.98%. The CEO role is not up for a vote.

Jeffrey Rosen, attending his last annual meeting as chairman of WPP’s compensation committee, defended the package, arguing that the scheme was approved five years ago and it would not be fair or even legal to withdraw it at the last minute.

Continue reading at AdAge.com

No Responses to “WPP CEO Handily Survives Vote on $50 Million Pay Package”

Post a Comment