LONDON--WPP PLC (WPP.LN) shareholders will have to wait until next year to find out if the pay of Chief Executive Martin Sorrell is reduced, The Mail On Sunday reports, citing unnamed sources. Chairman Philip Lader and Jeffrey Rosen, chairman of the advertising conglomerate's remuneration committee, are to start meeting shareholders this week before reporting back to the board on the issue and drawing up proposals, says the report. Last week, shareholders of the company gave a thumbs-down to the 60% pay raise granted to Mr. Sorrell. Some 60% of the shareholder votes cast at the WPP's annual meeting were against the company's executive compensation plan for 2011. Still, despite the anger over his pay, fewer than 2% of the votes opposed Mr. Sorrell's re-election. Shareholder votes on executive pay aren't currently binding in the U.K., but such protest votes can send a strong signal to board members and management. WPP posted a 43% increase in net profit for 2011 and has flagged expectations of a strong performance for 2012, driven by advertising around events such as the London-based Olympic Games and the U.S. presidential election. WPP wasn't immediately available for comment. Newspaper website: www.dailymail.co.uk -Write to Simon Zekaria at simon.zekaria@dowjones.com
