Martin Sorrell, the boss of the world's biggest advertising group WPP, saw off another shareholder revolt over his pay, when only 22 percent of investors refused to back his 43 million pound ($65.73 million) package at the company's annual meeting on Tuesday.Sorrell founded the firm that now employs almost 180,000 people worldwide. As recently as 2012, 60% of WPP's shareholders voted against his compensation package, so he's winning them over. As he should;
It's the opportunity costs, guys.
Sorrell said any shareholder who invested 1,000 pounds 20 years ago would now have a holding worth 15,831 pounds today.
The same investment in a basket of its peers Omnicom , Publicis, Havas and IPG, would be nearer 8,590 pounds, he said.
A WPP spokesman said WPP noted it had achieved a total return for shareholders of 171.5 percent in the last five years, against a 21.3 percent rise in the FTSE 100 index of blue chip stocks over the same period.