IPG Brass Reap $80M 'Golden Parachute' From Omnicom Deal


Four top executives of Interpublic will receive a total of more than $80 million as part of a so-called "Golden Parachute" agreement tied to Omnicom's acquisition of the agency holding company.

The payments include $49 million to Interpublic CEO Philippe Krakowsky, $15.7 million to CFO Ellen Johnson, $11.8 million to General Counsel Andrew Bonzani, and $6.2 million to Controller and Chief Accounting & Business Transformation Officer Christopher Carroll, according to a registration statement filed with the Securities and Exchange Commission on Friday.

According to the statement, Interpublic shareholders will have the opportunity to vote to approve the golden parachute payments, as part of the Omnicom/Interpublic merger agreement.

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"IPG seeks the support of its stockholders and believes that stockholder support is appropriate as the executive compensation programs are designed to incentivize executives to successfully execute a transaction such as that contemplated by the merger from its early stages until consummation," the statement notes.

Assuming the merger goes through, Krakowsky will become co-president and COO alongside long-time Omnicom exec Daryl Simm, as well as a member of the board of Omnicom.

According to Omnicom's last executive compensation SEC filing on March 28, 2024, Simm earned $8,753,780 in total compensation as COO of Omnicom in 2021.

Meanwhile, Friday's statement does not indicate what, if any, roles Johnson, Bonzani and Carroll will have in Omnicom following the merger, but they also are among Interpublic's top executive committee shareholders:

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