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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."
WPP chief Cindy Rose is cutting up to 1,000 jobs by the end of the year, adding to the 11K jobs lost since the start of 2025, according to a report in the Financial Times.
WPP CEO Cindy Rose declares her stabilization plan is "firmly on track" as the company reports a 4.7 percent dip in 1H revenues.
FTI Consulting reported a 2.6 percent drop in Q2 strategic communications revenues to $100M, a shortfall largely due to a $7.4M decline in pass-through revenues.
Omnicom CEO John Wren reported a 7.2 percent rise in Q2 “core operations” to $6B and a 6.1 percent spurt on an organic basis.
Publicis Groupe’s H1 net revenues inched ahead by 1.1 percent to $8.3B. Organic growth hit the 4.7 percent mark.
