| Updated:
WPP facing vote on bonus scheme
WPP could today be the latest FTSE 100 company to feel shareholder backlash against bonuses, as it asks investors to approve a new scheme that could see chief executive Sir Martin Sorrell bank around £60m.
Concerns that such a large sum could be paid to a single executive prompted the Association of British Insurers (ABI) to issue a “red top” warning to its members last week, urging them to consider the proposal closely. And corporate governance body Pirc recommended that investors oppose the scheme at today’s annual meeting.
UK investors are understood to be considering the advice, but key US institutional investors and corporate governance body Risk Metrics are expected to back the new plan.