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WPP shareholders reject CEO’s salary bump

By Michael Sebastian | Posted: June 13, 2012
A majority of WPP shareholders today voted against a 56 percent salary bump for CEO Martin Sorrell, as well as pay packages for the company’s directors.

London-based WPP is the world’s largest advertising agency and oversees several prominent public firms, including Hill & Knowlton, Ogilvy PR, and Burson-Marsteller.

Bloomberg News reports that 60 percent of WPP investors voted down Sorrell’s salary, although the vote is non-binding.

Sorrell has come under fire for his salary, along with other CEOs in Europe (including Publicis chief Maurice Levy). In an Op-Ed in the Financial Times this month, Sorrell defended his pay, saying the debate is “deeply disturbing.”

(Image via)