NEW YORK, Sept. 22, 2014 /PRNewswire/ -- Omnicom Group Inc. (NYSE: OMC) today announced that Randall Weisenburger has stepped down as the Company's Executive Vice President, Chief Financial Officer to return to private equity. Omnicom's Board of Directors has appointed Philip Angelastro, currently Omnicom's Senior Vice President Finance and Controller, as Executive Vice President, Chief Financial Officer.
"Randy has been a strong leader for Omnicom over the past sixteen years. He has made significant contributions to the team in building a world-class company during our time together. We appreciate his many efforts to help drive Omnicom's success and we wish him all the best," said John Wren, President and CEO, Omnicom. "At Omnicom, we place considerable emphasis on succession planning and Randy and I have long agreed that Phil would eventually take over as CFO. I have complete confidence that under Phil's leadership, Omnicom will continue to build on our long term track record of creating value for all our stakeholders."
"I'm proud to have been part of such an outstanding group of people and the consistent success we have shared over many years," said Mr. Weisenburger. "I believe the company is extremely well positioned both strategically and financially, to continue to lead the industry for years to come."
Phil Angelastro has served as Senior Vice President, Finance and Controller for Omnicom since 2002. In this role, he has overseen financial and accounting matters throughout the organization and played a key role in the company's ongoing efforts to improve the efficiency and effectiveness of its financial operations. His responsibilities have also included financial systems, income tax planning and cash flow management. He has also worked closely with the leadership of Omnicom's networks and agencies, and is deeply immersed in the company's strategy and operations.
Mr. Angelastro began his career at Coopers & Lybrand where he became a partner in 1996. In 1997, he joined the DAS Network of Omnicom as Vice President of Finance and then CFO for the Americas. In 1999, he was appointed Controller of Omnicom, where he began a program of process improvement that continues today.
"I have had the pleasure of working closely with John and Randy for a number of years," said Mr. Angelastro. "I appreciate Randy's guidance and support during this time. I am excited for this new opportunity and look forward to working with our team and our stakeholders to help Omnicom to continue to deliver on our outstanding track record of performance."
Omnicom Group Inc. (www.omnicomgroup.com) is a leading global marketing and corporate communications company. Omnicom's branded networks and numerous specialty firms provide advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries. For the latest news follow us on Twitter https://twitter.com/Omnicom.
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SOURCE Omnicom Group Inc.
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