WPP shareholders reject Sir Martin Sorrell's pay deal

Investors at WPP, the world's largest advertising agency, this afternoon revived the shareholder spring by rejecting a big pay rise handed to chief executive Sir Martin Sorrell.

At the firm's Dublin AGM 59.5 per cent of shareholders voted against the group's remuneration report, which will hand Sorrell a a substantial increase to his pay package, taking the total to £6.8m.

The vote is non-binding and Sorrell is expected to push ahead with the rise, arguing he deserves the remuneration for turning WPP into the world's leading advertising group.

He says the pay increase will bring him in line with other chief executive at WPP's global competitors.