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More Upheaval at Omnicom Board

News, 27 December 2002

Omnicom Group announced Thursday the departure of one board member and the recruitment of two new independent directors.

Stepping down is Peter Foy, a member of the agency giant’s audit committee, who said he was leaving to pursue other commitments.

The joining duo are Michael Henning (former deputy chairman of Ernst & Young) and Errol Cook (quondam managing director at Warburg Pincus). Both officially take their places on December 31.

The appointments complete a year of upheaval for the Omnicom board. Seven directors left in May as part of a plan to give greater influence to external members [WAMN: 23-May-02], before audit committee chairman Robert J Callender quit in June [WAMN: 10-Jun-02].

The net result, once Henning and Cook join, is a board of eleven, down from seventeen in May. Nine of its directors are independent, the only internal members being president/ceo John Wren and non-executive chair Bruce Crawford.

Data sourced from:; additional content by WARC staff