WPP Weathers Investor Revolt Over Martin Sorrell's 'Obscene' $26 Million Exit Package

Chairman Roberto Quarta re-elected

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WPP chairman Roberto Quarta had a message for the holding company’s shareholders at its annual group meeting this morning in London: We understand that you’re upset, but there’s nothing we can do.

The subject at hand was recently departed CEO Martin Sorrell—both the circumstances surrounding his departure and the matter of his just-announced “good leaver” exit package, which will amount to more than $26 million over the next five years.

During the hourlong meeting, several shareholders voiced their opposition to both Sorrell’s pay and what one man called the “obscene remuneration that this company has given [to executives] in the past.”

Specifically, they objected to the news that the maximum bonus for Sorrell’s successor will be eight times his or her base salary.

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