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: AdAge.com; additional content by WARC staff