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NEW YORK The former chief executive of Cordiant Communica
tions Group, Michael Bungey, took in $1.2 million as a result of his termination last year, according to an annual report filed by the troubled holding company yesterday.
Bungey, who earned a salary of $1.1 million in 2002, also stands to gain about $166,000 from a consulting contract that extends until March 31, 2004.
WPP Group is preparing to buy beleaguered CCG, but is running into opposition from CCG’s largest shareholder, Active Value.
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