Martin Sorrell's pay 'exceptionally high,' says investor advisor

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Sir Martin Sorrell: WPP's chief executive.
Sir Martin Sorrell: WPP's chief executive.

WPP CEO's £43 million ($65 million) package questioned by Institutional Shareholder Services

Sir Martin Sorrell's £43 million ($65 million) pay award has been criticized by Institutional Shareholder Services, an investor advisor, for being "exceptionally high."

The WPP chief executive is set to receive a 44% increase in his pay for 2014, year on year, which means that he will remain the highest paid chief executive in the FTSE 100 index of companies on the London Stock Exchange.

WPP, the world's largest group of advertising and media companies, is due to hold its annual conference on June 9.

The ISS report noted: "While this may further escalate an issue, which is already high profile and sensitive in nature, it is important to note that the numbers do not entirely correlate with or reflect the decisions made by the Committee during the year."

The significant rise in Sorrell’s pay follows an increase in his long-term share initiatives, which rose to £36 million ($55 million) in 2014 from £22.7 million ($34.5 million) in 2013.

The bonus is part of WPPs Leadership Equity Acquisition Plan (LEAP), a scheme that runs in line with the company’s performance.

According to the ISS, as there are two upcoming Leap awards, "shareholders can expect the single figure outcomes to remain exceptionally high in the foreseeable future – potentially much higher in the next remuneration report."

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