WPP facing vote on bonus scheme

WPP could today be the latest FTSE 100 company to feel shareholder backlash against bonuses, as it asks investors to approve a new scheme that could see chief executive Sir Martin Sorrell bank around &pound;60m.<br /><br />Concerns that such a large sum could be paid to a single executive prompted the Association of British Insurers (ABI) to issue a &ldquo;red top&rdquo; warning to its members last week, urging them to consider the proposal closely. And corporate governance body Pirc recommended that investors oppose the scheme at today&rsquo;s annual meeting.<br /><br />UK investors are understood to be considering the advice, but key US institutional investors and corporate governance body Risk Metrics are expected to back the new plan.