Last $73.36 USD
Change Today -0.42 / -0.57%
Volume 1.7M
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omnicom group (OMC) Key Developments

Omnicom Group Announces Executive Appointments

Omnicom Group reported two executive promotions within the company's senior management team. Peter Swiecicki, who currently serves as Director of Business Operations has been promoted to SVP, Finance and Controller. Andrew Castellaneta, who is Assistant Controller, becomes SVP, Chief Accounting Officer. As Controller, Swiecicki will play a key leadership role in financial management and business process optimization. He will oversee the company's financial processes and systems, as well as planning and forecasting function. Castellaneta will be responsible for Omnicom's global financial reporting function, providing transactional accounting support and financial analysis, and managing the company's regulatory compliance requirements. Prior to joining Omnicom in 2013, Swiecicki spent over 30 years at Omnicom's BBDO in various roles.

Omnicom Group Inc. Announces Executive Changes

Omnicom Group Inc. announced two executive promotions within the company's senior management team. Peter Swiecicki, who currently serves as Director of Business Operations has been promoted to SVP, Finance and Controller. Andrew Castellaneta, who is Assistant Controller, becomes SVP, Chief Accounting Officer. These appointments, which are currently effective, follow Phil Angelastro's appointment as Chief Financial Officer last September. As Controller, Swiecicki will play a key leadership role in financial management and business process optimization. He will oversee the company's financial processes and systems, as well as planning and forecasting function. Castellaneta will be responsible for Omnicom's global financial reporting function, providing transactional accounting support and financial analysis, and managing the company's regulatory compliance requirements. Prior to joining Omnicom in 2013, Swiecicki spent over 30 years at Omnicom's BBDO in various roles. He started his career at BBDO as Controller, BBDO Detroit, rising to CFO and COO of the agency. In 2010, he assumed the role of CFO of BBDO Germany and then moved to BBDO Worldwide in New York to shepherd several worldwide process efficiency initiatives. Castellaneta joined Omnicom as Assistant Controller in 2000 and has played a key role in enhancing the company's global financial reporting process and ongoing efforts to define and implement accounting policies and procedures for all Omnicom companies. Prior to joining Omnicom, he spent over a decade at the corporate headquarters of the Walt Disney Company and IBM in various senior financial management positions, including roles in financial reporting, M&A, real estate and treasury.

Omnicom Group Inc.(NYSE:OMC) added to S&P 500 Value Index

Omnicom Group Inc.(NYSE:OMC) added to S&P 500 Value Index

Omnicom Group Inc. Declares Quarterly Dividend, Payable on January 7, 2015

The board of directors of Omnicom Group Inc. declared a quarterly dividend of 50 cents per outstanding share of the corporation's common stock. The dividend is payable on January 7, 2015 to Omnicom Group common shareholders of record at the close of business on December 23, 2014.

Omnicom Group Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Tax Rate Guidance for the Year 2014

Omnicom Group Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. The company's revenue in the third quarter of 2014 increased 7.4% to $3,749.6 million from $3,490.5 million in the third quarter of 2013. Earnings before interest, taxes and amortization of intangibles, a non-GAAP financial measure, increased $55.3 million, or 13.6%, to $460.5 million from $405.2 million in the third quarter of 2013. Operating income increased $54.2 million, or 14.3%, to $433.6 million from $379.4 million in the third quarter of 2013. Net income increased $47.8 million, or 24.4%, to $243.8 million from $196.0 million in the third quarter of 2013. Diluted net income per common share was $0.95 per share versus $0.74 per share during the third quarter of 2013. Excluding the impact of these expenses, EBITA was $433.3 million, operating income was $407.5 million, net income was $217.7 million and diluted net income per common share was $0.82 per share. Income before income taxes was $402.2 million against $336.6 million a year ago. The company's net debt position at the and of the quarter was $2.96 billion, up about $440 million. The company generated almost $1.125 billion of free cash flow, excluding changes in working capital during the first 9 months of the year. Capital expenditures of $438 million was up about $15 million from the same period last year. The company reported worldwide revenue for the nine months ended September 30, 2014 increased 5.7% to $11,122.7 million from $10,526.4 million in the same period in 2013. EBITA for the nine months ended September 30, 2014 increased $91.3 million, or 6.8%, to $1,441.8 million from $1,350.5 million in the same period in 2013. Operating income increased $90.5 million, or 7.1%, to $1,364.7 million compared to $1,274.2 million in the same period in 2013. Net income for the nine months ended September 30, 2014 increased $83.8 million, or 12.1%, to $774.5 million from $690.7 million in the same period in 2013. Diluted net income per common share for the nine months ended September 30, 2014 increased 37 cents, or 14.3%, to $2.95 per share, compared to $2.58 per share for the nine months of 2013. Excluding the impact of these expenses, for the first nine months of 2013: EBITA was $1,378.6 million, operating income was $1,302.3 million, net income was $712.4 million and diluted net income per common share was $2.66 per share. Income before income taxes was $1,260.6 million against $1,149.6 million a year ago. The company expects its operating tax rate for the year 2014 to continue to stay around 33.2%.

 

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