NEW YORK: Omnicom Group EVP and CFO Randall Weisenburger has stepped down after 16 years to return to private equity.
Philip Angelastro, the company’s controller and SVP of finance, will take over the role, having worked at the company since 1997.
Weisenburger had worked at Omnicom since 1998. Prior to that, he spent more than ten years with venture capital and private equity firm Wasserstein and Co.
His departure comes five months after the holding company’s failed merger with Publicis Groupe.
"[Weisenburger] has made significant contributions to the team in building a world-class company during our time together," said John Wren, president and CEO of Omnicom.
He added that the holding company places "considerable emphasis on succession planning, and [Weisenburger] and I have long agreed that Angelastro would eventually take over as CFO."
This article originally appeared on the website of Campaign.
