Sorrell pay cut £22m

Sir Martin Sorrell, boss of advertising giant WPP, has had his pay slashed by nearly a third – but he still took home £48million last year.

The chief executive’s total pay packet for 2016 was a big drop on the £70.4m he was awarded the previous year.

The major decrease reflected the falling value of his long-term share incentive plan, which fell from £62.8m to just over £41m.

His base salary remained at £1.15m.

However, Sir Martin is still the highest paid chief executive in the FTSE 100.