June 13, 2018 / 11:36 AM / in 4 months

WPP says 30 percent of shareholder votes fail to back Sorrell remuneration package

LONDON (Reuters) - Nearly 30 percent of WPP (WPP.L) shareholders failed to back its executive pay proposal on Wednesday as shareholders expressed their anger over the handling of founder Martin Sorrell’s departure.

A logo hangs on the wall outside the WPP offices in London, Britain April 30, 2018. REUTERS/Simon Dawson

Chairman Roberto Quarta had said that he accepted that some would find Sorrell’s share scheme unsatisfactory, but it pre-dated the current board. Sorrell left the company with his long-term share scheme in place.

Nearly 17 percent of shareholder votes failed to back Quarta’s re-election as chairman.

Reporting by Kate Holton, writing by Alistair Smout; editing by Jason Neely

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below