WPP asks investors to boost Sorrell’s basic pay
WPP has been sounding out investors about raising the £1m base salary of its chief executive Sir Martin Sorrell by up to 50%, according to reports.
Sorrell was paid £1.07m in 2010 as part of an overall remuneration package of £4.23m, most of which is made up of performance-related pay.
The Guardian claims that WPP has “stunned its major investors” by asking for Sorrell’s basic pay to be increased by “up to 50%” and for the size of his potential bonus to be increased.
A WPP spokesperson declined to comment on the numbers, but said: “As we said in our most recent annual report, Sir Martin Sorrell’s base salary has been unchanged since 1 January 2007 and Sir Martin declined a review due in November 2008 because of business conditions at the time.http://ow.ly/6CVIw