MDC Partners today announced a revamp of its board of directors and enhanced governance/compensation practices designed to strengthen internal controls and procedures.

nadalCEO Miles Nadal said the measures were made after hearing from shareholders and agreeing that some changes were needed.

The new measures also follow the April decision of the Securities and Exchange Commission to investigate the mini ad/PR conglom's accounting practices, expenses of Nadal and third-party trading of its shares.

MDC has retained Spencer Stuart to identify two to four independent directors to serve on its board. That process will play out over the next several months.

Management directors Lori Senecal (global CEO of Crispin Porter + Bogusky ad unit CEO of MDC Partner Network) and Stephen Putsil (vice chairman) will resign from the board on July 1. Putsil will continue as vice chairman and executive leadership team member.

Independent directors Clare Copeland (vice chairman of Falls Management Co. owner of a casino in Niagara Falls, Canada) and Michael Kirby (former Canadian Senator) will retire on or before the June 2016 expiration of their one-year term.

The company plans to put into place new financial performance metrics for incentives payable to Nadal and executive offiers.

MDC also has retained Mercer compensation consulting firm to implement best practice pay programs aligned with enhancing shareholder value.

Allison + Partners, Luntz Global, Kwittken, Sloane & Co. and Hunter PR are PR holdings of MDC.

The company's shares trade at $20.10, closer to their $17.99 52-week low than $28.65 high.