Omnicom Honchos Waive 2002 Bonus Payments

21 April 2003

Omnicom Group, the globe’s third largest agency holding company, which in 2002 lurched from one crisis to another, last week set an example of boardroom best practice to the sorry heap of corporations still rubbing the salt of executive mega-bonuses into the open wound of fiscal mismanagement.

Omnicom’s senior executives, to their eternal credit, feel it more appropriate to reward those at the mid-level coalface with “substantial incentive compensation”, while allowing the group to “meet shareholder objectives” - according to a recent filing with the Securities and Exchange Commission.

Among those foregoing their 2002 bonuses are Omnicom ceo John Wren, who in 2001 scooped $1.3 million (€1.20m; £0.83m); Thomas Harrison, ceo of Omnicom’s Diversified Agency Services unit ($1.2m in 2001); DAS vice-chairman Peter Mead ($1.3m); DDB chairman Keith Reinhard ($1.1m); and Allen Rosenshine,, ceo of BBDO ($1.1m).

Data sourced from:; additional content by WARC staff