WPP Approves £11.1M Rose Package Amid Dissent
WPP's board cleared the pay deal over roughly 25% shareholder opposition, a vote read as investor scrutiny of executive pay against the group's performance.
WPP approved an £11.1M remuneration package for Cindy Rose despite a roughly 25% shareholder revolt, according to everything-pr.com. Both major proxy advisers had recommended rejection: ISS reportedly wrote that the proposed pay was "out of proportion to the company's market positioning and its financial performance," while Glass Lewis cited the size of Rose's on-appointment salary. The reported dissent registers investor scrutiny of executive compensation amid questions about the group's financial performance.