Interpublic Group CEO Michael Roth received a nearly 22% bump in total compensation last year, earning almost $11.8 million, according to a company regulatory filing. His base salary was $1.4 million with most of the rest of his compensation coming from a mix of stock and option awards and non-equity incentive pay.
IPG is the second major holding company to report what its top execs made in 2013. Last week, Omnicom reported that CEO John Wren earned 18.1 million last year, also a gain of about 22% over the previous year.
IPG’s organic revenue growth was in the middle of the pack among Adland holding companies in 2013, up 2.8% for the full year although its fourth quarter organic growth was 3.7% which was the best quarterly growth the company reported in two years.
Reviewing Roth’s accomplishments last year, IPG’s compensation committee cited his “financial and strategic leadership that resulted in the Company’s increasingly strong balance sheet, competitive professional offerings and topline growth, as well as significant shareholder value creation.” The committee also cited the company’s “continued enhancement of the company’s ability to meet the evolving needs of clients.”
Roth is 68, although neither he nor the company has indicated a specific time frame for a succession plan. However, the company did cite Roth’s efforts in the last year to bring a “high level of focus to identification and development of potential successors from within current senior management ranks, so as to ensure seamless succession in due course.” Potential successors weren’t identified.
Company CFO Frank Mergenthaler was the second-highest-paid executive at the holding company in 2013. His total compensation was just over $4.9 million, up 28% from 2012. Chief Strategy and Talent Officer Philippe Krakowsky was the third-highest paid executive at the firm, earning more than $3.8 million, up 17% from 2012.
IPG Controller and Chief Accounting Officer Christopher Carroll earned $1.7 million, up 37% from 2012. In his first full year at the holding company, General Counsel Andrew Bonzani earned over $1.5 million.
The company also said that it would hold its annual meeting this year in New York on May 22.