WPP chief executive Sir Martin Sorrell’s share scheme pay falls more than 30 per cent (to £42m)
Sir Martin Sorrell, the FTSE 100’s best-paid chief executive, raked in £42m from WPP’s long-term incentive scheme last year, it emerged today.
The £41.56m is a reduction on £63m Sorrell made from the LEAP share scheme last year, meaning his overall package for the year is likely to reduce from 2015’s £70m to around £50m.
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The chief executive’s total pay will be announced when the advertising giant, which Sorrell founded in 1985, releases its annual report in April.
Last year, some 34 per cent of WPP shareholders voted against Sorrell’s 2015 pay package.
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WPP revealed the details of its LEAP scheme on Thursday, just short of a week after it reported a 27 per cent growth in pre-tax profits in 2016.
The company said:
2016, the group's thirty-first year, was another record year, following successive post-Lehman record years in 2011, 2012, 2013, 2014 and 2015, six record years in a row, despite a generally low global growth or tepid environment.