Tuesday, 26 May 2009

WPP advertises abroad

We may be in the middle of what is drearily being dubbed an "age of austerity", but advertising giant WPP sees no irony in trying to push through a new bonus scheme that could see boss Sir Martin Sorrell trouser £60m over the next five years.
UK investors find that one a bit rich, so the company's turning to US shareholders in an effort to slip the scheme through.
That may or may not prove successful, but Sir Martin must be praying that those American investors never bothered to tune in to his Davos blog last year, on which he deliberated about how masters of the universe were prone to forgetting how the rest of us live.
"Just limbering up for Davos at the Hubert Burdas DLD conference in Munich," Sir Martin mused back then. "Seems to be total disregard for the stock market meltdown. Not only a disconnection between the financial markets and the real world at the moment, but the new media world too ... Ironic that Davos will operate in the middle of a major financial crisis. Klaus (Schwab) certainly has a flair for timing."
As too, it seems, does the Lord Mayor of London, Ian Luder. When awarding Sir Martin the Freedom of the City of London in November, he gushed: "He is a great ambassador for British business across the world.”
Let's hope so!

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