Sir Martin Sorrell
Sorrell has earned an eye-watering £191m since 2009
WPP chief executive Sir Martin Sorrell, who’s Britain’s highest-paid FTSE boss, is set to face investor backlash over his £70.4m pay package.
A minority of shareholders are set to reject his bumper pay in the group’s annual general meeting on Wednesday.
Sorrell has earned an eye-watering £191m since 2009 and £300m since he took the helm as CEO.
Speaking to CNBC in April, Sorrell said: “I continue to hold in the company, so every time the company does well, I benefit. And of course, a large number of other people – because I’m not the only one involved in these plans – and every time we do badly, we all suffer.”
Last year, 22 per cent investors voted against Sir Martin raking in £43m. However, the shareholder rebellion had no effect.
Pirc and ShareSoc, two investor advisory firms, have branded Sorrell’s pay as “excessive”.
In a statement ShareSoc said: “In view of his shareholdings and existing incentive awards, I don’t see why he needs to be given any more incentives. I don’t think it will make him work any harder.”
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