Omnicom Retains CFO after IPG Merger

Omnicom confirms that CFO Phil Angelastro will remain at the helm of financial strategy following its acquisition of IPG.

Phil Angelastro, an old executive at Omnicom Group, which is headquartered in New York, has said that he will remain as CFO of the company after it acquires Interpublic Group (IPG). Angelastro will be at the center of the financial management at the organization, which will continue to have the incumbent Executive Vice President and CFO Angelastro in the post-merger phase of its global growth.

Angelastro came to Omnicom in 1997 when he started work at Coopers and Lybrand and became a partner at PwC. He subsequently progressed through various top management financial positions at Omnicom, including CFO of the Americas, Controller, and Senior Vice President of Finance, before he was appointed as the EVP and CFO.

Being a CFO, he has also managed financial planning, capital management, liquidity, and risk management as well as reinforcing the balance sheet of Omnicom. His tenure entails improvements in the procurement, real estate, IT and working capital programs, moves that will be critical as Omnicom combines IPG's creative, media and data-driven industries.

The merger also makes Omnicom one of the most popular marketing and communications networks in the world, combining the strengths of the client portfolios of both companies and the scope of operation. The survival and promise of financial discipline of Angelastro in his remaining capacity as CFO is by making sure that the organization sets strategies, consolidates operations and maneuvers through the competitive global marketplace.

As the integration continues, the top management of Omnicom reinforces the fact that Angelastro has the experience and the years of financial stewardship is what will help the company to overcome the next phase of growth and operational transformation.