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WPP CEO Rose's £11mn Pay Package Draws Scrutiny Amid Share Plunge

Financial Times Companies •
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WPP's incoming CEO Cindy Rose stands to receive an annual maximum of £11 million if shareholders approve her new pay policy at the struggling British advertiser's annual general meeting. This figure, revealed in WPP's annual report, represents a significant increase from the £8.6 million her predecessor Mark Read could have earned before leaving. Rose's package includes £1.7 million in fixed pay, compared to Read's approximate £1.3 million. Rose's compensation package includes £5 million buyout awards from Microsoft, where she previously worked, covering unvested bonuses. The package also covers a New York apartment included in her fixed pay, reflecting her dual role between London and New York offices.

Since joining in September, Rose has initiated a strategic overhaul to simplify WPP's sprawling operations, aiming to cut £500 million in annual costs by 2028 and sell non-core businesses. However, her arrival has coincided with a severe share price decline; WPP's shares have fallen by a third since the year's start and are trading at a 17-year low, crashing out of the FTSE 100 in December.