WPP chief Sorrell's take-home pay hits £17m in 2004

by Ben Bold, Brand Republic 06-Sep-05, 15:00

LONDON - WPP chief Sir Martin Sorrell pay packet hit £17m in 2004, according to information supplied by Independent Remuneration Solutions.

However, the news is unlikely to concern the group's shareholders on the basis of WPP's continuing strong performance.

According to IRS, Sorrell's earnings included proceeds from share-based long-term incentive plans of £14.6m.

WPP confounded gloomy predictions about the state of the global advertising market with a 32% boost in pre-tax profits in the first half of the year.

The group's revenues rose 22% to £2.5bn, a figure that was significantly boosted by the acquisition of Grey Global Group and new-business wins such as HSBC and Samsung.

IRS is a company that advises on executive directors' packages, annual and long-term incentives and independent directors' fees.

If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum.