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WPP chief executive Sir Martin Sorrell’s pay in 2016 fell by 31.6 per cent from £70.4m to £48.1m after the value of his long term incentive scheme dropped dramatically.
Sir Martin has drawn criticism from investors and campaigners after his 2015 pay package was one of the biggest ever awarded to a FTSE 100 executive.
A third of the company’s shareholders protested by voting against the advertising group’s remuneration policy at last June’s AGM.
But with Sir Martin’s pay from his long term incentive plan, known as LEAP, down from £62.8m to £41.6m and his short term performance related pay also down from £4.28m to approximately £3m, the overall pay package has been significantly reduced.
The company will be hoping the fall will appease investors ahead of June’s AGM.