IPG Shareholders Keep Roth, Exec Compensation In Place
Interpublic shareholders met Thursday in New York and voted overwhelmingly to re-elect all members of the company’s board of directors including chairman and CEO
Michael Roth.
Voters representing more than 343 million shares cast their ballots in favor of re-electing Roth; 14 million shares were voted against Roth. Results were similar for the eight other board members standing for re-election as well.
Voters also endorsed the executive compensation plan proposed by the company, with less than 7% of those voting yea or nay rejecting it. In 2011, Roth was paid about $13 million.
Shareholders voted down a proposal urging the company to require executives to hold onto a significant portion of their IPG common stock for at least one year after leaving the company. The company had recommended that shareholders vote the proposal down and they did by about a 3-to-1 margin.
At the meeting, Roth told shareholders that operating profit was up 25% to $687 million last year, while operating margin expanded by nearly 1.5 percentage points to 9.8%, the best margin performance in over a decade. Total capital returned to shareholders through dividends and share repurchases totaled more than $500 million, he said.
The meeting, held at The McGraw-Hill Building in Manhattan was attended by roughly 100 shareholders. The company showed off dozens of nontraditional case studies and pieces of work, including an augmented reality application that digital shop R/GA built for client Converse.
Recent MediaDailyNews Articles
-
Scripps Launches TV Everywhere With TWC June 17, 6:01 p.m.
Scripps Networks has a TV Everywhere deal with Time Warner Cable, allowing viewers access to on-demand ... -
Cannes Lions, Gates Foundation Partner For Global Initiative June 17, 5:51 p.m.
It sounds like a cliché from a beauty pageant, where the contestants talk about the lofty ... -
After TV, Sports Fans Up Coverage On Mobile, Social Nets June 17, 4:27 p.m.
While TV remains the No. 1 platform for sports fans, the second-screen TVs of sports -- ... -
Public Trust In Newspapers Dips Again June 17, 2:19 p.m.
In addition to their well-publicized financial woes, newspapers have a credibility problem, as Americans’ confidence in ... -
Speculation About TWC, Charter Merger Continues June 17, 11:30 a.m.
Strong speculation on Friday about a possible merger between Time Warner Cable and Charter Communications -- ... -
Second-Screening Posts Modest Results In Sports June 17, 7:15 a.m.
Second-screening remains slow out of the gate for sports viewers, according to new research. Results show ... -
Weber Departs AT&T Role Overseeing U-Verse Content June 14, 9:58 p.m.
Jeff Weber, president of content and advertising sales at AT&T, has left the position. Weber oversaw ... -
Univision Expects 15% Upfront Gain, Could See $2.1B June 14, 5:40 p.m.
U.S. English-language broadcast networks continue to suffer under the weight of slightly lower upfront volume overall. ... -
Bauer To Launch 3 New Titles In Fall June 14, 4:21 p.m.
Amid declining ad pages and stagnant or declining circulation, you don’t hear much nowadays about big ... -
S&F Appeals WPP Suit, Sues NDTV June 14, 4 p.m.
The law firm Sabharwal & Finkel, which last month lost its libel suit against WPP CEO ...
Be the first to comment on "IPG Shareholders Keep Roth, Exec Compensation In Place"
Leave a Comment