Monday, June 02, 2014

11889: Davey Jones’ $13.5M Locker.

Adweek reported former Havas CEO David Jones nabbed $13.5 million in compensation last year—which included $7 million in severance. That’s roughly $7 million more than the average Havas worker receives along with a pink slip. Jones’ top accomplishments were hiring Lee Garfinkel, buying Victors & Spoils and criticizing the proposed Publicis Groupe-Omnicom merger. Gee, you’d think Jones would feel obligated to pay Havas $7 million as an apology. The douchebag makes IPG CEO Michael Roth look like a bargain.

Havas Paid Former Chief David Jones $13.5 Million Last Year

Total included $7 million in severance

By Noreen O’Leary

David Jones, the former global CEO of Havas and its namesake ad agency, received $13.5 million in compensation last year, which included $7 million in severance, according to the company’s newly-issued annual report.

As CEO of the holding company, Jones was replaced last August by Yannick Bolloré, son of Havas’s controlling shareholder Vincent Bolloré. Jones had held that role since 2011.

Then in January, Jones left the company after being removed from his job as CEO of ad agency Havas Worldwide, with global co-president Andrew Benett assuming that job.

In 2013, Jones received nearly $6.1 million in employment payout. Of that amount, he earned about $1.2 million in fixed compensation and the same amount in total bonus, according to the annual report. In addition, he got about $3.6 million in long-term incentive payments for 2012 and 2013.

Jones, who was employed under a U.S. contract at the Paris-based company, also received $3.6 million in severance, which comprised two years of fixed compensation of about $1.2 million plus one year of bonus at the same amount.

Finally, Jones received another $1.2 million compensation for a non-compete clause and his role as an advisor to the younger Bolloré, the report noted. Jones’ non-compete clause and advisory role ends on Dec. 31.

The holding company had no comment beyond what its report laid out and Jones could not immediately be reached.

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