Help us lead a revolt at WPP over high pay


8:15 am - June 12th 2012

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contribution by Emily Kenway

As one of the world’s largest advertising groups and with a presence in 108 countries, WPP is hard to avoid. Its subsidiaries hold advertising contracts with a plethora of household names, including GlaxoSmithKline, Nestle, Unilever, BP and Nokia.

It also has a penchant for convenient tax arrangements; that is, to pay as little of it as legally possible.

In 2008, it notoriously moved its tax base from the UK to Dublin to take advantage of the latter’s lower corporation tax rates, and has since been a vocal proponent of Osborne’s corporation tax cuts.

Today, WPP will be holding its annual general meeting. Its shareholders will get to vote on CEO Sir Martin Sorrell’s remuneration which stands at a total expected value of £29 million.

This mammoth pay-out has been widely condemned: the insurance industry trade body ABI and advisory voting agency ISS have called for shareholders to vote against the package, and Manifest has given it the lowest rating out of the FTSE 100 so far this year.

Unfortunately for Sorrell and the board, a robust vote against the pay package is expected on Wednesday.

This is where you come in.

FairPensions will be going to its AGM in Dublin to challenge the board on its bad pay practice.

By going to www.fairpensions.org.uk/highpay/wpp you can add your name to our petition so that we can take your voice with us.

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Reader comments


1. Just Visiting

Well, that’s surprising news today:

> The advertising giant WPP is reeling after 60 per cent of shareholders voted against its chief executive Sir Martin Sorrell’s controversial £13m pay deal.


Reactions: Twitter, blogs
  1. Liberal Conspiracy

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  2. Jason Brickley

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  3. Derek

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  4. leftlinks

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  5. BevR

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  7. Owen Blacker

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  8. BevR

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  9. Lee Hyde

    Help Us Lead a Revolt at #WPP Over #HighPay http://t.co/5hcElf8H /via @libcon ft @FairPensions





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