Sorrell receives £23m payout

Sir Martin Sorrell: the chief executive of WPP
Sir Martin Sorrell: the chief executive of WPP

Sir Martin Sorrell, the chief executive of WPP, has secured nearly £23 million in shares, a payout from the marcoms group's long-term incentive scheme.

Sorrell was awarded 1.78 million in company shares last month, retaining his position as one of the UK’s best-paid chief executives.

The Leadership Equity Acquisition Plan (LEAP) payout referred to Sorrell’s performance between 2009 and 2013. The incentive scheme was scrapped last year, following shareholder dissent over executive pay in 2012, but WPP is still honouring historic awards.

Sorrell’s payout will be confirmed in the 2013 annual report, which is due to be published in the next few weeks.

Brand Republic Jobs
Thousands of jobs across advertising, creative, marketing and media

Just published

Feel you're missing out?

Sign up

The Wall Blog

From our partners

Being Human

Whoops Adblockalypse

Huddle 2015 - as it happened