LONDON (Reuters) - Nearly 30 percent of WPP (WPP.L) shareholders failed to back its executive pay proposal on Wednesday as shareholders expressed their anger over the handling of founder Martin Sorrell’s departure.
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