As I never get tired of telling you, the downfall of the once great ad biz began with the creation of the BDHC’s (Big Dumb Holding Companies.) Mostly run by bean counters whose main preoccupation is making the quarterly numbers, the quality of the end product has consistently fallen. Not so the salaries of the douchenozzles responsible for this fiasco. News yesterday that Interpublic’s Philippe Krakowsky received a ludicrous pay raise for 2021, his first year as CEO of the company. According to the firm’s recently released 2022 proxy statement, Krakowsky nearly doubled his total compensation in 2021 to approximately $17.3 million, up from about $8.8 million in 2020 when he was COO of the company. That’s a lot of dosh for doing what is basically an accountant’s job.
Then I discovered BDHC’s...