Omnicom EVP and CFO Randall Weisenburger is leaving the marketing conglomerate after 16 years to return to the private equity sector.
OMC’s board tapped SVP of finance and controller, Philip Angelastro, to take over Weisenburger’s role.
Weisenburger played a key role in Omnicom’s rise and he was rewarded handsomely – 2012 compensation topped $31M in pay and stock sales. Media reports on the scuttled Omnicom-Publicis merger earlier this year centered on a power struggle over Weisenburger and his Publicis CFO counterpart, Jean-Michel Etienne.
Angelastro is a 17-year OMC vet, joining its DAS Network as VP of finance in 1997. He became controller of OMC in 1999 and SVP in 2002. He is a former partner of Coopers & Lybrand.
Omnicom CEO John Wren said he and Weisenberg “have long agreed” that Angelastro would take the CFO post.
Weisenburger is a former president and CEO of private equity and venture capital firm Wasserstein & Co.
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