LONDON, March 10 Several leading investors in
WPP, the world's biggest advertising group, are prepared
to push for the exit of CEO Martin Sorrell if they do not get
their way over cuts to his pay package, The Sunday Times
The newspaper does not name any shareholders but cites one
"large investor" as saying: "If there's another rebellion this
summer, it would be a clear signal that shareholders are looking
at life beyond Sorrell."
WPP's board has been in talks with investors over a planned
reduction in Sorrell's package, the paper said, adding that
proposed cuts were not deep enough to allay concerns over
excessive executive rewards.
Almost 60 percent of WPP's shareholders voted against the
company's remuneration report last year.
WPP was not immediately available for comment.