WPP boss gets £16m pat on the back

WPP chief executive Sir Martin Sorrell has been awarded £16.6m worth of shares as part of a five-year performance plan.

Sorrell, who has built WPP from a media minnow to a world-class advertising firm, received 3.22m shares - 60% of the maximum award possible. He had invested millions of pounds of his own money in the scheme, which enabled him to win matching shares. Sorrell and his family now hold 17.3m shares worth nearly £90m.

WPP's finance director Paul Richardson received shares worth £1.5m, but sold some of these to fund tax liabilities. Director Howard Paster received shares worth £1.4m.

The huge payouts have been attacked by some shareholder bodies. Sorrell courted controversy in April with a new incentive scheme that could net him £44m over nine years. He has always been well rewarded - earning £2.46m in pay and pension last year. WPP fell 2 1/2p to 516 1/2p.