Executive pay. It's a touchy subject. After all, why does any human on the planet need the kind of money that many CEOs take home? Well, they don't. It's not a matter of need. It's a matter of worth. How much is that CEO worth in relation to the work he or she did to drive the success of the company they helm?
WPP's Martin Sorrell has always been in the headlines for the amount of compensation he receives for heading up the holding company. While shareholders have never really been a fan of Sorrell's pay -- in fact, they voted against his 2012 package -- investor advisory firm Institutional Shareholder Services thinks Sorrell is worth every penny.
The advisory firm has recommended that WPP shareholders approve Sorrell's 70 million pound ($102,635,050) compensation package for 2015 when they hold their annual meeting on June 8.
Of their recommendation to shareholders, ISS said in a statement: "We highlight that the bulk of the CEO's 2015 headline realized pay number is largely driven by his participation in ... a plan which shareholders approved by a comfortable margin ... in 2009 and in part reflects the company's run of extended strong performance. The company has also outperformed its global peers on a relative basis, as required by the performance conditions of the scheme."
Is Sorrell worth it? Many would argue no. Many would argue that no one is worth that much compensation. But consider that Sorrell built WPP from a two-man operation in London into a mega-holding company with 190,000 employees in 112 countries. There ought to be some sort of reward for that, right?