WPP may face more shareholder ire over CEO Sorrell's pay-FT

May 31 (Reuters) - British-based advertising company WPP Plc (LSE: WPP.L - news) may face opposition from its shareholders at its annual meeting on June 9 over Chief Executive Martin Sorrell's 43 million stg 2014 compensation, the Financial Times reported.

Proxy advisers like Glass Lewis & Co and Institutional Shareholder Services (ISS (Copenhagen: ISS.CO - news) ) have criticized the figure, calling it "wholly excessive" and "exceptionally high", the newspaper said. (http://on.ft.com/1Fn9Ii6)

Glass Lewis recommended shareholders vote against Sorrell's pay, saying it "far exceeds the compensation given to chief executives at similar firms", while ISS did not go as far as recommending a "No" vote, but said "the overall quantum of Sir Martin Sorrell's pay remains exceptionally high", the business daily said.

ISS said it supported the award because it was performance-based and most of it was attributable to share price appreciation, according to the Financial Times.

Sorrell, one of Britain's highest-paid executives, has previously faced criticism from shareholders over his compensation.

Reuters reported earlier in March that Sorrell is set to receive shares worth 36 million pounds ($55.05 million) this year as a part of an arrangement that depends on the company's performance.

Sorrell received 22.7 million pounds ($34.71 million) worth of shares last year as part of an overall remuneration package of 29.8 million pounds ($45.57 million).

WPP, Glass Lewis and ISS could not be reached immediately for comments outside regular business hours.

($1 = 0.6540 pounds) (Reporting by Rishika Sadam in Bengaluru; Editing by Eric Walsh)