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WPP chief Martin Sorrell may finally have to make some concessions about his remuneration.
At the company’s annual general meeting in Dublin today, 59.5 percent of absentee shareholders, who voted by proxy, rejected his $20.24 million pay package. Votes from shareholders who attended the meeting are still being finalized, but with those proxies already in it’s unlikely the recommendations of WPP’s board will be able bridge that gap.
At today's shareholder meeting, WPP also said the company stands to make a $50 million gain off of its $5 million strategic investment in Facebook marketing platform Buddy Media, which is now being acquired by Salesforce.com.
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