Kerching! Sir Martin Sorrell to get £36m pay packet

Adman and Europhile, Sir Martin Sorrell, looks set to remain the FTSE 100’s highest paid CEO for 2014.

The outspoken boss of the world’s biggest advertising conglomerate, WPP, is in line for a remuneration packet worth £36m 2014.

Sorrell’s payout is thanks to a five-year incentive scheme called Leap, established in 2010, that rewards Sorrell and 16 other senior executives based on their performance and shares owned. Alongside the other 16 other execs, Sorrell is due to share a £70m payout based on their performance and shares.

Not everybody is mad about the decision, however, with a shareholder revolt rumoured as likely. Last year, the boss narrowly missed having salary cut, after shareholders revolted against his £30m pay packet.

Defending the £36m figure, WPP’s chairman, Philip Lader, said: “This senior management incentive compensation plan required substantial personal, long-term investment by the participants, exceptional corporate performance over five years, and was approved by an 83% supporting vote of share owners.”

It’s understood that Sorrell put 416,666 of his own WPP shares into the Leap scheme when it was established in 2010. This will enable him to claim five times as many shares this year, depending on how WPP performs. But while £36m is a significant number, it pales in comparison to Sorrell’s earnings in 2005. That year, he earned £50m.

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