WPP reportedly set to add new non-exec directors to board following Sorrell pay row
Global marketing company WPP is reportedly set to overhaul its board as it seeks ‘a number’ of new non-executive directors, possibly two, with one potentially being groomed as a new chairman.
The Telegraph has reported that the new directors are being sought as a result of the ‘no’ vote against CEO Sir Martin Sorrell’s pay increase earlier this year.
The newspaper claimed that one of its sources has even indicated that one of the new directors may take over from chairman Philip Lader at some stage in the future.
Bringing in new board members will apparently answer questions asked about the independence of the current board, The Telegraph said.
The story follows WPP’s announcement that the board has agreed to return its headquarters to the UK, with shareholders set to vote on the possibility at the end of this year.
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WPP plc is a British multinational communications, advertising, public relations, technology, and commerce holding company headquartered in London, England. It was...
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