Gideon Spanier
Jun 14, 2018

Sorrell's $26 million payoff triggers shareholder rebellion

27% of investors voted against the remuneration report in a non-binding vote at the AGM in London, and 15.5% voted against the re-election of chairman Roberto Quarta.

WPP chairman Roberto Quarta (l) and former CEO Sorrell both saw shareholder votes go their way despite backlashes.

WPP faced tough questions about Sir Martin Sorrell's exit at its annual general meeting, with more than a quarter of WPP shareholders voting against his entitlement to a possible 20 million US$26.75 million payoff.

Despite resigning in April, Sorrell is entitled to shares that could be worth nearly that amount over the next five years if the company hits targets.

27% of investors voted against the remuneration report in a non-binding...

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