Martin Sorrell, Britain's best-paid CEO, will get a £36 million bonus this year
In 2014, Sorrell received a £22.7 million share award while his overall pay package was worth £29.8 million.
While the share awards are part of his pay packet and are 60% higher than last year's amount, the eye-watering total does not come as a surprise because Sorrell's pay is directly linked to the performance of the company.
Unlike many other FTSE 100 company bosses' compensation, Sorrell and other WPP executives receive a bonus directly linked to the share performance of the company. So, for example, if the stock price tanks as WPP profits take a hit, so will their bonuses. Since executives, including Sorrell, are encouraged to invest their own money into the company's shares, their personal cash is at stake.
At the beginning of this month WPP, the the world's largest advertising firm reported a record £1.5 billion annual profit in 2014. For the full year, WPP grew pre-tax profits by 12% to £1.45 billion on reported revenue of £11.53 billion, which was up 4.6% year over year.
It has also seen a strong start to the start of the current trading year. Shares are up over 30% over the last year at 1,574.50p on March 16, 2015.
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Markets rebound in early trade amid global rally, buying in ICICI Bank and Reliance
- Women in Leadership
- Rupee declines 5 paise to 83.43 against US dollar in early trade
- Election Commission issues notification for sixth phase of Lok Sabha polls
- 6 Coffee recipes you should try this summer
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market