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WPP CEO Pay Faces Shareholder Revolt

Financial Times Companies •
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WPP faces a shareholder revolt over Cindy Rose's £11mn pay package as influential proxy advisors ISS and Glass Lewis recommend investors reject the deal. The former Microsoft executive could earn this annual amount if bonuses are fully paid, exceeding predecessor Mark Read's £8.6mn maximum payout.

Shareholders vote next week on the proposal amid WPP's poor performance, with shares more than halved in 12 months. The company lost its FTSE 100 status in December and trades at 17-year lows despite recent client wins like Estée Lauder. Borders to Coast, owning 0.23% of WPP, confirmed it will vote against the pay plan.

Proxy advisors question whether the compensation package aligns with WPP's market positioning and financial performance. ISS stated there was "no sufficient justification" for the premium pay, while Glass Lewis cited the discrepancy between financial and non-financial metrics. WPP defended the package as "essential to align us with global peers" during its strategic overhaul, which includes cutting £500mn costs by 2028.