Monday, March 22, 2010
Foregoing my bonus.
There was an article in last week's Adweek that I held off commenting on because I figured George Parker over at Adscam would sling it better than I. But it's been a few days now and fair game is fair game.
Here's the scoop. A handful of Publicis board members (only one of whom ever created an ad) have decided to forgo their 2009 bonuses as a "gesture of solidarity" with the company's employees in these tough times. http://www.adweek.com/aw/content_display/news/agency/e3i21cea1586dd4edf51bde7a0c27d5bbf9
Maurice Levy left his $3.7 million bonus on the table pocketing $1.2 million in salary last year. David Kenny and Jack Klues, managing partners of the VivaKi digital and media unit, each gave up $1.2 million in bonus; Jean-Yves Naouri, evp, group operations, $476,238; and Kevin Roberts, CEO of Saatchi & Saatchi, $408,182. Publicis said each of those executives made the decision independently of one another.
There's a lot of blather in agencies about the importance of creative. But never have I heard of creative people--you know copywriters, art directors and producers getting even 1/10th of what these denizens of the hallowed halls of holding companies have "independently" given back in a show of solidarity.
I'm sure that this magnanimous gesture will be great consolation to the thousands of former Publicis employees who were let go last year.
Posted by George Tannenbaum at 7:07 AM