The boss of advertising and marketing giant WPP was paid almost £18million in 2012 despite last year’s investor backlash over pay.
Sir Martin Sorrell’s remuneration package – revealed in WPP’s latest annual report – ballooned to £17.6million from £11.9million in 2011, boosted by an £11.4million long-term share award which vested recently.
His pay deal risks further enraging shareholders who rejected the firm’s remuneration report last year. WPP attempted to placate them by cutting Sir Martin’s basic pay in 2013, to £1.15million, and its contribution to his pension.