The Interpublic saga continues with the news of the firing of their CFO, Nick Cyprus, for something other than “Cause!” Very weird, particularly as they paid him a ton of money to come on board the sinking ship, including a signing on bonus of $1.83 million less than two years ago. Now they’re giving him a golden parachute of $2.5 million to leave the building. All very strange when you consider they haven’t given a single reason why his short tenure didn’t work out. But when you consider there’s been a revolving door for that position in the last few years, he’s lasted longer than most, and walked away with a nice chunk of change. I’m sure we haven’t heard the last on this yet!
I hear Sir Frank Lowe might be looking for a "numbers" guy!
Kudos to Mack Simpson over at AdVerb for pointing out my error in saying Mr. Cyprus had been fired for "Cause." Turns out it was for something other than "Cause!" Whatever that means. Anyway, thanks Mack, you have an interesting sight, I recommend everyone to check it out at...
www.macksimpson.com/adverb/
Posted by: George Parker | March 28, 2006 8:02 PM | Permalink to Comment