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LONDON, June 9 (Reuters) - Martin Sorrell, the boss of theworld's biggest advertising group WPP, saw off anothershareholder revolt over his pay, when only 22 percent ofinvestors refused to back his 43 million pound ($65.73 million)package at the company's annual meeting on Tuesday.
Sorrell, who built up WPP from nothing in 1986 into one ofBritain's best known companies with 179,000 employees in 111countries, has clashed repeatedly with investors over his pay inthe past few years.
But the number of investors objecting has decreased overtime. Nearly 60 percent of shareholders rejected his pay packagein 2012 and 30 percent last year.
Investors have been split on the issue, with many sayingthat while the figure is excessive, they accept that Sorrell hasbeen responsible for building WPP into the company it is today.
"There is no doubt that Martin Sorrell is a successful CEOwho has created value for shareholders, but sometimes investorsneed to ask themselves 'when is enough, enough?" Ashley HamiltonClaxton, corporate governance manager at shareholder RoyalLondon Asset Management, said.
"In our view, 43 million pounds is more than enough."
The group, which has media buying agency GroupM and adagencies Ogilvy & Mather and JWT in its stable, has defended thepay award, saying more than 90 percent was linked to thecompany's performance.
Addressing the issue of performance head on at the annualmeeting in central London, Sorrell said any shareholder whoinvested 1,000 pounds 20 years ago would now have a holdingworth 15,831 pounds today.
The same investment in a basket of its peers Omnicom, Publicis, Havas and IPG,would be nearer 8,590 pounds, he said.
A WPP spokesman said WPP noted it had achieved a totalreturn for shareholders of 171.5 percent in the last five years,against a 21.3 percent rise in the FTSE 100 index of blue chipstocks over the same period.
Several shareholder advisory groups such as PIRC had advisedshareholders to vote against the remuneration package.
($1 = 0.6542 pounds) (Reporting by Paul Sandle; Editing by Kate Holton and JaneMerriman)
