By Nick Kostov

London--WPP PLC (WPP.LN) shareholders approved the pay package of Martin Sorrell after the advertising group's founder and chief executive faced another sizable revolt over his pay packet.

Mr. Sorrell's received 70.4 million pounds ($103 million) in compensation in 2015, up 65% on the previous year and a sum that some shareholder advisory groups labelled "excessive" and "unacceptable" ahead of the meeting.

At Wednesday's meeting in London, around two thirds voted for the pay package while a third voted against. Among most institutional shareholders of U.K.-listed companies, the default vote is traditionally cast in favor of management for remuneration reports. Abstentions can be viewed as a milder form of protest.

John Hood, the head of WPP's compensation committee, said in the company's annual report that "while the value of Sir Martin Sorrell's award is very large, it was the result of an outstanding set of returns to share owners." WPP's shares rose 16% in 2015.

Write to Nick Kostov at nick.kostov@wsj.com

(END) Dow Jones Newswires

June 08, 2016 08:54 ET (12:54 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
WPP (NYSE:WPP)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more WPP Charts.
WPP (NYSE:WPP)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more WPP Charts.