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WPP may change Sorrell's pay package

Published on .

London-based WPP Group is expected to modify its remuneration package that could earn Chief Executive Martin Sorrell $38.9 million over five years as a peace offering to angry institutional investors. Rebellious shareholders Fleming Investment Management, Hermes and Standard Life--with a combined 10.5% of total shares in the agency holding company--have threatened to vote against the plan at an extraordinary general meeting on June 26. The package, linked to specific company performance targets, includes basic pay and share options.

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