Scott becomes WPP board member
By Abimbola Mohammed
WPP has appointed its Chief Operating Officer (COO), Andrew Scott, as the new Executive Director to its board.
His appointment takes immediate effect.
According to a post on the company’s website, Scott will be paid in accordance with the Directors’ Compensation Policy (“the Policy”) approved by shareholders on May17, 2023 as set out in the 2022 Annual Report.
In addition to director’s compensation, Scott will receive an annual base salary of £725,000 in line with his existing compensation agreement; be eligible to receive annual bonus and executive performance share plan awards in line with the WPP compensation policy; be subject to shareholding requirements in line with the policy; and receive a pension contribution in line with those of the wider workforce in the UK.
Scott currently holds 719,717 ordinary shares in the company.
He was previously a director of Scangroup plc (a subsidiary of WPP) and resigned the post in August of last year.
Scott joined WPP in 1999 as Director of Corporate Development. He also held a number of other senior roles, including COO for Europe before appointed global Chief Operating Officer in 2018.
According to Roberto Quarta, Chairman of WPP, “Scott brings to the Board a deep understanding of our business from his 24 years with WPP and the significant contribution he has made to our success during that time.”
In the same vein, Mark Read, Chief Executive Officer of WPP, said: “This appointment recognises the key role that Scott plays in the company, and the importance of continuously improving our operational effectiveness.”
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