WPP looks set to avoid the shareholder pay revolt it faced last year over the pay of Sir Martin Sorrell, as two key shareholder advisory bodies have decided not to oppose WPP's remuneration report.
This comes ahead of the company’s annual meeting on 12 June, which last year saw 60 per cent of shareholders opposing the £13m pay for the chief executive.
Last year, Co-operative and Standard Life were among shareholders who voted against the increase, with the reason given that it exceeded the scale of returns enjoyed by investors.
In April, WPP added four new non-executive directors to its team as part of a ‘radical’ shake-up.
Sir Martin took a pay-cut of £150,000 earlier this year as well as a 20 per cent reduction in his potential bonus in an effort to avoid the scenes from last year.