SORRELL’S £22m PAY CUT – BUT HE STILL GETS £48m!
THE highest-paid man on the FTSE has taken home more than £48m – despite a £22m pay cut.
Sir Martin Sorrell, boss of advertising giant WPP, was paid £48.1m last year, down from £70m, to avoid another shareholder backlash.
WPP introduced a less generous payment scheme this year for him after 34pc of shareholders refused to back its controversial incentive plan at its AGM last year. His 2016 payout is the last to be awarded under the plan, which has seen him receive more than £210m in five years.
Sorrell, 72, is married to Cristiana Falcone (both pictured), who is 30 years his junior and is director of media and entertainment industries at the World Economic Forum.
He is expected to earn no more than £19m under the new scheme – but his pay could go down to £13.2m.