Thursday, April 18, 2024

16613: IPG CEO Prunes Plum Pay Prize.


Mediapsssst at MediaPost revealed IPG CEO Phillipe Krakowsky received a 9% pay increase in 2023, boosting his annual compensation to $14.4 million. That translates to a raise of nearly $1.296 million—or, to put it in perspective, roughly $1.296 million more than the average IPG drone’s gross salary.

 

What’s most outrageous is that IPG did not do well in terms of revenue last year—and the White holding company continues to prune and pummel White advertising agencies within its network. Krakowsky also managed to personally profit before IPG lost gazillions after getting dumped by Pfizer.

 

Wait, there’s more. The second highest paid IPG executive was CFO Ellen Johnson, who took a pay decrease for a total draw of $5.2 million—which might point to a gender pay gap.

 

The company’s annual meeting, scheduled for May 23, is bound to expel poop loads of gobbledygook.

 

IPG CEO Krakowsky Received 9% Pay Bump In 2023

 

By Richard Whitman, Columnist

 

Interpublic CEO Phillippe Krakowsky received a 9% bump in total compensation in 2023 to a little more than $14.4 million, according to the firm’s proxy statement issued earlier this week.

 

That’s more growth than the company delivered last year. Full-year organic net revenue climbed just 0.1%. Which was in the neighborhood of the growth delivered by WPP although CEO Mark Read didn’t fare so well in the pay department.

 

Read in fact took a 33% reduction in total compensation to 4,498,000 GBP.

 

Omnicom CEO John Wren leads the pack with total comp last year of $20-plus million, slightly less than he made in 2022.

 

IPG’s proxy statement announced the company’s annual meeting will be held May 23 in virtual format only.

 

The second highest paid executive at IPG last year was CFO Ellen Johnson who received total compensation of about $5.2 million, a little less than she earned in 2022.


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