Backlash over Sorrell's pay cheque as CEO pay row continues

CEO pay is again making headlines with advertising giant WPP braced for a backlash over Chief Executive Sir Martin Sorrell’s record-breaking £70million pay package.

The Telegraph reports that more institutional investors than last year are expected to protest against the pay rise at the company’s AGM than last year, when 22% rejected WPP’s remuneration report.

A source said: “Some more institutions are likely to vote against this year because of the quantum. They may feel £70m is just too much for anyone.”

The news comes as Sainsbury’s CEO Mike Coupe has seen his pay soar despite falling sales and profits at the supermarket, receiving an 86% rise to £2.8million, up from £1.5million a year earlier – This is Money reports.