MDC Partners Resolves Dispute With Activist Investor as Mark Penn Becomes Chairman

Former Snap executive Kristen O’Hara nominated to board

Experience ADWEEK House at Cannes, June 16-19. We’re celebrating 45 years of reporting with Now and Next—a creative opportunity for brands to define who they are and their future in the industry. Register .

Just over a month after former WPP executive Mark Penn became CEO of MDC Partners and acquired approximately 30% of the company via his own Stagwell Group, the agency network announced several changes to its board of directors.

Perhaps most significantly, MDC has resolved a spat with hedge fund FrontFour Capital, which owns approximately 5.1% of the company. Last November, FrontFour took on the role of activist investor via an SEC filing intended to express its dissatisfaction with now former CEO Scott Kauffman’s departure and MDC leadership’s search for his replacement.

The

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in