NEW YORK--(BUSINESS WIRE)--May 12, 2004--The Interpublic Group (NYSE: IPG) announced today that it has hired Nick S. Cyprus, 51, as Vice President, Controller and Chief Accounting Officer. Mr. Cyprus will assume the position as of May 24, 2004 and will report to Robert Thompson, the company's Senior Vice President of Finance. Mr. Cyprus replaces Dick Sneeder, who became Controller at Interpublic's McCann-Erickson WorldGroup unit in March.
Mr. Cyprus comes to Interpublic from his position as Vice President and Controller of AT&T. In addition to his traditional controller's duties, he also led AT&T's Sarbanes-Oxley implementation efforts, financial systems oversight and cost-reduction initiatives. He has significant experience with Sarbanes-Oxley compliance and serves on the Public Company Accounting Oversight Board's (PCAOB) Standing Advisory Group and Internal Working Group. He is also on the Board of the Committee of Sponsoring Organizations of the Treadway Commission.
Prior to becoming AT&T's Controller, he served as Assistant Corporate Controller and Chief Accountant. Before that, he served nine years at AT&T Capital Corporation, the last six years as Vice President and Controller. Before joining AT&T Capital, he was the lead technical accounting policy manager for AT&T Information Systems.
"We are very pleased that Nick is joining us at Interpublic, " commented Chris Coughlin, Interpublic's Chief Operating Officer and Chief Financial Officer. "More than ever, the role of controller is a key part of every company's management team. Nick is tops in his field and the consummate professional. He is also an expert in areas that are critical to Interpublic's turnaround and future success, including financial systems and the internal control environments that underpin Sarbanes-Oxley compliance and implementation."
Before joining AT&T, Mr. Cyprus spent several years in the oil and gas industry working for Amerada Hess and SPG Energy. He began his accounting career at Pricewaterhouse Coopers, where he spent several years on diversified audit assignments.
Mr. Cyprus is a member of the Financial Executives International's Committee on Corporate Reporting and a resource group member of the FASB's Revenue Recognition Project. He has been recognized by the New Jersey State Society of Certified Public Accountants as the Outstanding Business Leader of the Year and by the Institute of Management Accountants as the Financial Executive of the Year.
Interpublic is one of the world's leading organizations of advertising agencies and marketing services companies. Major global brands include Draft, Foote, Cone & Belding Worldwide, Golin/Harris International, Initiative Media, Lowe & Partners Worldwide, McCann-Erickson, Octagon, Universal McCann and Weber Shandwick Worldwide. Leading domestic brands include Campbell-Ewald, Deutsch and Hill Holliday.
CONTACT: General Inquiries:
Financial Relations Board
Julie Tu, 212-445-8456
Interpublic Group of Companies, Inc.
Philippe Krakowsky, 212-399-8088
SOURCE: The Interpublic Group