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| 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."
Omnicom CEO John Wren reports Q1 revenues jumped 5.4 percent to $3.6M, powered by a solid 7.0 percent rise in its advertising & media segment.
Public Policy Holding Company registered 24.1 percent growth to a record $135M during the past year, which included the results of the March 1 acquisition of Multistate Assocs.
Stagwell CEO Mark Penn reported Q4 net revenues dipped 5.6 percent to $551.1M during a “challenging year for marketing services and digital transformation.”
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WPP reported Q4 revenues inched ahead 0.3 percent to $4.1B as CEO Mark Read wrapped up a year that he said was more challenging than expected due to cutbacks, mainly by technology clients.
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