British Gas and Press Association

BP Smith Nephew: If we do badly, we suffer, according to The Guardian. The comments came as Centrica, the owner of British Gas, holds its annual general meeting on Monday, after suffering a significant pay protest last year. Speaking after shareholders voted against pay deals at BP and Smith & Nephew on Thursday – and as boardrooms are on high alert for a potential revival of the 2012 shareholder spring when scores of investors rebelled over executive pay – Sorrell told the Press Association: Most of my wealth, if not all of it, is and has been for the last 31 years tied up in the success of WPP. So if WPP does well, I do well, and others in the company do well. Big City investors are also scrutinising the pay deals at a wide-range of FTSE 100 companies including mining company Anglo American and building products group CRH, as well as WPP. Andrew Tyrie, the Conservative MP who chairs the Treasury select committee, told the Financial Times that shareholders now faced a defining moment in curbing excessive pay. The £63m figure is likely to eventually hit £70m, when WPP publishes its annual report later this month, which will include Sorrell salary and other payments on top of the shares. In March, the advertising firm revealed that Sorrell collected what is believed to be the second-largest package granted to a FTSE 100 chief executive, behind only the £92m in shares and cash paid to Bart Becht while he was chief executive of Reckitt Benckiser in 2009. (news.financializer.com). As reported in the news.