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MDC Partners

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MDC Partners Inc.
Company typePublic
Nasdaq: MDCA
TSX: MDZ.A
IndustryMarketing Services
FounderMiles Nadal Edit this on Wikidata
Headquarters
New York City, USA and
Toronto, Canada
Area served
International
Key people
Scott Kauffman
(CEO and Chairman)
Websitewww.mdc-partners.com

MDC Partners Inc. (Nasdaq: MDCA, TSX: MDZ.A) is a holding company based in New York City and Toronto, Canada.

History

It was founded as Multi Discipline Communications in 1980 by Miles Nadal, who until 2015 served as the CEO. On July 20, 2015, Chairman Scott Kauffman was appointed CEO.[1]

Operations

Unlike other holding companies, MDC positions itself as a "partner," taking majority stakes, generally 60-80%. It has invested in companies in many sectors: advertising, B2B, branding, crisis management, digital/interactive, direct marketing, experiencial marketing, entertainment, investor relations, media buying, media planning, multicultural advertising, PR, product innovation, publishing, social media, strategic planning.[citation needed]

The company is a publicly traded, listed on both the NASDAQ stock exchange under the symbol MDCA and the Toronto Stock Exchange under the symbol MDZ.A.[citation needed]

Companies

Major holdings include 52 advertising and marketing firms:[2][3]

4

Miles Nadal

On July 21, 2015, Miles Nadal announced his resignation as CEO in response to an investigation by the U.S. Securities and Exchange Commission regarding executive pay and accounting practices. Nadal agreed to pay back $1.9 million in expenses and $10.6 million in salary and bonuses. He did not receive any severance or compensation for resigning. Chief accounting officer Michael Sabatino also announced his resignation and will reportedly repay $208,000 in bonuses. [4][5]

References

  1. ^ "Scott Kauffman Appointed Chairman and CEO of MDC Partners; Miles Nadal Retires; Company Reaffirms Annual Guidance". PR Newswire. 2015-07-20. Retrieved 2016-04-23.
  2. ^ "MDC Partners Acquires Majority Stake in PR Firm". Everything-PR: Public Relations, Marketing and Social Media News. Retrieved 2016-04-22.
  3. ^ "Agencies". MDC Partners. Retrieved 2016-04-23.
  4. ^ "MDC Partners' Stock Plummets After News of SEC Probe Into CEO's Expenses". AdWeek. Retrieved 2016-04-22.
  5. ^ Tadena, Nathalie. "MDC Partners CEO Miles Nadal Steps Down Amid SEC Investigation". WSJ. Retrieved 2016-04-22.
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