WPP is facing an investor revolt over chief executive Sir Martin Sorrell’s £48m pay and bonus deal.
About a quarter of shareholders are set to protest against the advertising tycoon’s latest colossal award at its annual meeting this week.
It is the final payout from a controversial bonus scheme, which has delivered nearly £250m to Sorrell since 2009.
Executive rewards have long been a source of conflict between WPP and its investors. Sorrell’s fans argue that WPP is the world’s best performing advertising company, and that he deserves to be paid more than his peers.
Between 2012 and 2016, WPP’s market value soared by 172% to £23.3bn, compared with a 28% rise on the FTSE 100.
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Under a new pay plan to be put to an investor vote, Sorrell will be able to earn a maximum of £13m a year.