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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."
Public Policy Holding Company grew 27.5 percent to $50.1M during Q1, powered by the accelerating contribution from recent acquisitions and a 5.1 percent hike in organic revenues across its three operating segments.
Institutional Shareholder Services advises investors to vote "no" on a compensation package for WPP chief Cindy Rose at the May 8 annual meeting.
FTI Consulting chalked up a 9.5 percent rise in Q1 revenues to $983.3M, powered by gains in its PR, corporate finance and technology segments.
Stagwell reports 4 percent growth in Q1 net revenues to $585M and a record $141M in net new business wins.
WPP reported a 6.7 percent drop to $3.1B in Q1 like-like revenues less pass-through costs. CEO Cindy Rose says 'it will take time to outpace historical losses."
