WPP's Sorrell Defiant In Face Of Salary Pay Hike
Financial Times , Thursday, June 7, 2012 3:34 PM
CEO Sir Martin Sorrell’s refusal to back down over his total pay increase last year to £6.8m has reignited the militant mood among shareholders that has seen a number of top UK chief executives forced to quit their jobs in recent weeks. Indeed, investors say the shareholder revolt is likely to dominate annual company meetings and remain in the media spotlight for the next few years. Says one top 10 shareholder in WPP, the world’s largest advertising company, “When many people are struggling to simply hold on to their jobs, a pay rise of 60% looks excessive in the extreme.”
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