Shareholders of whopping advertising company WPP have objected to the £6.8 million pay
deal being suggested for its founder, Sir Martin Sorrell .
Shareholders
have been advised that the offer of £3256.70 per hour being put forward in the company’s pay report is excessive. The deal represents a 60% increase on his pay last
year while average CEO pay has risen by 11% - the average being £3.65mill (£1748.08 per hour).
Shareholders are a canny bunch. They recently sold off
Cadbury’s to Kraft, Abbey National to Santander, Pilkington Glass to NSG. I imagine the only
reason they are objecting to the apparent excess of Sorrell’s pay
recommendation is that there will be less profit to be shared out amongst them
as dividends. Shareholder think with their wallets,
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