The salaries were disclosed in proxy statements sent to shareholders of Omnicom Group and Interpublic Group of Cos.
At Omnicom, BBDO chairman-CEO Allen Rosenshine pulled in a salary of $985,000 and DDB Chairman Keith Reinhard earned $925,000 in 2002, while Omnicom President-CEO John Wren earned $895,000 for the year. Omnicom's top management passed on the cash bonuses in 2002 and received no stock options. Mr. Wren's bonus in 2001 was $1.3 million, while Messrs. Rosenshine and Reinhard each received $1.1 million. Mr. Rosenshine and Mr. Reinhard both received options on 200,000 shares in 2001, while Mr. Wren's options totaled 2 million shares.
Interpublic's situation was complicated by top management changes this year, when John J. Dooner Jr. stepped down as chairman-CEO and became chairman-CEO of McCann-Erickson WorldGroup. Mr. Dooner's employment agreement includes an annual salary of $1.25 million, while his successor, David Bell, has a salary of $1 million. J. Brendan Ryan, CEO of FCB Worldwide, also receives $1 million annually, while Mr. Dooner's now-departed predecessor at McCann, James Heekin, made $970,000.
The executives did not get cash bonuses in 2002, but they received stock and options. Mr. Dooner received preferred stock worth $2.95 million at Dec. 31 prices and options for 375,000 shares, while Mr. Bell received restricted stock worth $294,750 and options for 55,000. Mr. Heekin and Mr. Ryan received restricted stock worth $1.6 million and $265,275 and options for 221,000 and 55,000 shares, respectively.