LONDON, March 16 (Reuters) - WPP Chief ExecutiveMartin Sorrell is set to receive shares worth 36 million pounds($53 million) this year as part of a scheme dependent on thecompany's performance, the British firm said on Monday.
WPP, the world's largest advertising firm, said Sorrell hadreceived 2.3 million shares as part of a scheme dating back to2010.
One of Britain's highest paid executives, Sorrell haspreviously been on the receiving end of shareholder protestsover the scale of his pay. He received shares worth 22.7 millionpounds last year as part of an overall remuneration package of29.8 million pounds.
WPP said the payout followed a five year period when thecompany's market capitalisation increased by 133 percent,meaning Sorrell, chief executive for the last 29 years, willreceive the maximum payout.
($1 = 0.6769 pounds) (Reporting by Kate Holton, editing by Louise Heavens)