WPP AUNZ annual report reveals Jens Monsees’ salary, bonuses and allowable expenses
WPP AUNZ CEO Jens Monsees has a fixed salary of $1.5m, received a one off payment of $250,000 in 2019 in lieu of a performance-based bonus, and can bill the business up to $250,000 per year for his children’s education and one annual trip back home to Germany for him and his family, according to the company’s 2019 annual report.
Monsees’ total remuneration package also includes both short-term and long-term incentives, in the form of cash, shares, and options. However, it could be impacted this year; last week, the holding company announced it was asking key executives to take a voluntary cut in base salary in response to the business impacts of COVID-19.
Monsees addressed the pandemic in his letter contained within the report, which read: “As I write, we are yet to understand and quantify the full impact of the virus on the regional economy, our clients and our business. However, what has been evident as it unfolds, is the ability of our business to adapt to this new environment.”
Nothing to see here. All good. WPP will be fine! Steedy as she goes.
These details on CEO package were announced by the company in its 24th Feb press release (ASX Annoucnement Appendix 4E and Full Year Results 2019).
Been public information for 6 weeks.
Why the long article now?
That’s a lot of salary sitting in a central function that delivers no revenue….
This is very poorly timed press considering WPPAUNZ asked all employees yesterday earning over $75k to take a pay cut + leave. The pay cuts are no longer only for executive members apparently.
and now WPPAUNZ are cutting salaries and forcing leave on employees earning over $75k…
The irony could not be thicker.
We’re all being asked to take a 10-20% reduction in hours. He has no choice but to announce what he’s taking home this year.
Appalling leadership from all at the top. Take 80% of their pay! They don’t even deserve that!
If he can restore the fortunes of WPP Jens Monsees will be worth every penny. Unfortunately, not many clients transition to agency side very well; they’re too used to being the bat; being the ball calls for humility, patience, salesmanship and diplomacy. Those attributes usually come from agency experience. Years of it.
We should all wish him well, he has the welfare of many very nice people (and some dolts) in his care.