FILE PHOTO: Sir Martin Sorrell, Chairman and Chief Executive Officer of advertising company WPP, attends a conference at the Cannes Lions Festival in Cannes, France, June 23, 2017. REUTERS/Eric Gaillard/File Photo (Reuters)
LONDON, June 13 (Reuters) – Nearly 30 percent of WPP shareholders failed to back its executive pay proposal on Wednesday as shareholders expressed their anger over the handling of founder Martin Sorrell’s departure.
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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)
