Diary: Interpublic puts a high value on its PR master
campaignlive.co.uk, Friday, 29 July 2005 12:00AM
Good news is thin on the ground for the Interpublic Group of Companies just now. Nevertheless, its vast PR operation has been kept very busy doing what might best be termed as damage limitation.
But those of you who might feel moved to pity the holding company's head of communications, might think twice after hearing what his pay package is. Philippe Krakowsky, the company's senior vice-president and director of corporate communications, has a reported salary and bonus of no less than $1,072,490, and that's before you factor in any stock options.
He's been selling a few shares of late: in March and April 2003, he sold almost $1 million-worth, and since then he's sold a further $370,000-worth (or thereabouts).
Still, he earns every penny. This week's press release was a brilliant exercise in impenetrable jargon: "The Interpublic Group (NYSE:IPG) announced today that on July 25, 2005, it had completed its previously announced offering of an aggregate ..."
This article was first published on campaignlive.co.uk
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