LONDON (dpa-AFX) - Advertising giant WPP Group Plc.'s (WPP.L, WPPGY) chief executive officer Martin Sorrell is facing a huge cut in his pay package following investor criticism and a dismal year, Bloomberg reported citing a person familiar with the matter.
The 73-year-old chief will receive a long-term bonus of less than 15 million pounds, compared with 41.6 million pounds last year.
Sorrell's total pay package, which won't be revealed until April with the publication of the annual report, will also include pension payments, benefits, his salary and a short-term bonus. These are unlikely to tally more than 20 million pounds, compared with last year's 48 million pounds, the report said.
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