TITLE

Incentive plan for Sorrell has rich rewards

AUTHOR(S)
Britt, Bill
PUB. DATE
August 1999
SOURCE
Advertising Age;8/23/1999, Vol. 70 Issue 35, p9
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports on the decision of WPP Group chief executive Martin Sorrell to defer a $50 million-plus bonus due in September 1999, in favor of a new incentive plan that could give him an additional $50 million in five years. Under the plan, Sorrell and an anticipated 14 other senior executives at WPP and its operating companies will invest $20 million in WPP shares. If the company hits certain performance targets relative to 14 identified competitors, the executives will be rewarded with additional shares. Under the plan, Sorrell would invest $10 million and could receive $50 million in shares in five years.
ACCESSION #
2193583

 

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