Your English writing platform
Discover LudwigExact(60)
Last year ABI and ISS issued reports against backing WPP.
Proxy voting firm Institutional Shareholder Services, a consultancy that advises about 20% of WPP's shareholders, is thought to have advised investors to back WPP.
This is understood to flag issues at WPP including executive remuneration, It has fallen short of a "red top" report which would have caused many investors to vote against WPP's remuneration resolutions.
There is expected to be some unrest at the meeting but WPP is unlikely to face the level of shareholder revolt it encountered in 2012 when its resolutions on pay were voted down by a majority of investors.
"We recognise that WPP has sought to change its remuneration policy, following shareholder rejection of the policy in 2012," said Kieran Quinn of LAPFF.
Sir Martin Sorrell, the chief executive of media giant WPP, says growing overseas "is what newspapers are going to have to do" but he warns the process comes weighted with risk: "It's possible but very difficult, because you have to build scale in every market in which you operate".
The famously combative Desmond – whose Northern & Shell owns media assets including the Daily Express, Daily Star and their Sunday siblings, as well as OK! magazine and Channel 5 – said that even he doesn't feel he has the "testicles" to resist the WPP chief executive's demands.
"It is very difficult when Group M say to us that if you don't do this we are going to cut you back by 10% or 20% [in ad spend from WPP clients]," he added.
Newspoll is a joint venture between News Corp Australia and international advertising and public relations firm WPP.
Advertising giant WPP added 12.5p to 990p after Jefferies raised its recommendation from hold to buy and its target price from 800p to £11.50.
Shareholder advisory service the Association of British Insurers has issued an "amber top" advisory report on WPP ahead of the meeting.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com