WPP is working on a succession plan to its architect CEO Martin Sorrell, the 71-year-old, well-compensated chief of the marketing conglomerate since its 1985 creation.
Sorrell, an inconic figure in the agency realm, has been in focus over the past week for his $100M pay package in 2015, making him the top-paid CEO in the UK. His compensation, CNN Money reported, was 141 times the average WPP staffer.
WPP's chairman Roberto Quarta said the company is identifying candidates to replace Sorrell from outside and within the company, a "strong pool of ... candidates to draw from." He added it will be a board focus in 2016.
Bloomberg noted it will be a challenge for WPP to find a chief who can bring "similar visibility to WPP as it seeks to outpace rivals Publicis, Omnicom and Havas.
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