Sir Martin, who joined WPP in 1986, has accrued a total of 13.39m shares in the company, as well as options on a further 14m shares. He built up his stake after investing 拢2m in WPP during the 1990s, when it was in financial turmoil. At this morning's share price of 744.37p, his stake is now worth 拢99.6m -- almost 25 times more than what he invested. WPP is worth around 拢8.5bn.
The annual report shows that Sir Martin -- recently described by rival media boss Alain de Pouzilhac, CEO of Havas Advertising -- as "one of life's bad guys", is paid for his work via a company called JMS.
As well as his annual salary and fees of 拢849,000, pension contributions of 拢339,000 and share option plans, WPP pays employer National Insurance contribution to JMS. Should 57-year-old Sir Martin leave the company, he will receive twice his annual salary and fee, bonus and pension payments, as well as continuing to receive certain benefits, such as health insurance from his US employment agreement.
Sorrell's pay for 2001 fell by 60% after he rejected a bonus payment of 拢966,000. In 2000, his salary package totalled some 拢2.5m.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .