WPP shareholders should oppose company on pay at AGM - PIRC

LONDON, June 1 (Reuters) - Shareholders should oppose the pay report at advertising firm WPP (LSE: WPP.L - news) 's annual meeting, given the "excessive" pay of Chief Executive Martin Sorrell, leading advisory group PIRC said in a statement on Wednesday.

Sorrell's total 2015 pay of 70.4 million pounds ($101.45 million) included variable pay that was 58 times his base salary of 1.2 million pounds, it said, which far exceeded an acceptable ratio of 200 percent of salary.

The ratio between Sorrell's pay and that of the average WPP (Swiss: OXWPP.SW - news) employee was "highly excessive" at 196 to 1, and well above the maximum acceptable ratio to PIRC of 20 to 1.

In addition, PIRC said investors should oppose the reelection of Chairman Roberto Quarta as he was also chairman of Smith & Nephew (LSE: SN.L - news) and should focus on one FTSE 100 firm only, and reject the reelection of auditors Deloitte.

WPP's annual general meeting is due to take place on June 8. ($1 = 0.6940 pounds) (Reporting by Simon Jessop, editing by Maiya Keidan)