John Wren
John Wren

Omnicom CEO John Wren took a 17.2 percent cut in compensation to $19.8M in 2019, according to the firm's proxy statement released April 29.

The parent company of FleishmanHillard, Mercury, Marina Maher, Portland, Ketchum, Cone and Porter Novelli registered a 2.2 percent dip in 2019 revenues to $15.3B. Net income inched ahead one percent to $1.3B.

CFO Philip Angelastro also saw a drop in compensation, down 2.6 percent to $7.6M.

Jonathan Nelson, CEO of Omnicom Digital, and Michael O'Brien, executive VP/corporate secretary, enjoyed pay bumps of 8.1 percent to $5.4M and 7.7 percent to $4.1M, respectively.

As a COVID-19 pandemic measure, OMC's top executives didn't receive the cash portion of the 2019 non-equity incentive plans typically past last month. That payment has been pushed to later in the year.

Those cash bonuses are $10.6M for Wren, $3.4M for Angelastro, $2M for Nelson and $1.6M for O'Brien.

Meanwhile, OMC will shrink its board from 11 to nine members as Robert Clark, Harvard professor; and Alan Batkins, one-time vice chairman of Kissinger Assocs., have reached the mandatory 75-year-old retirement age and will not stand for re-election to the board at the June 9 annual meeting slated for Greenwich, CN, and online.

As for their replacements: Omnicom anticipates "continued board refreshment and remains focused on ensuring a smooth transition and onboarding process for new directors."