NEW YORK--(BUSINESS WIRE)--Dec. 5, 2002--The Interpublic Group (NYSE:IPG) announced today that, effective immediately, the company has named Thomas A. Dowling, currently the company's Senior Vice President, Financial Administration, to the newly-established position of Chief Risk Officer.
As Chief Risk Officer, Dowling will assume the task of evaluating and strengthening Interpublic's global risk management strategy. He will lead the integration of the company's enterprise risk management functions (internal audit, compliance, intercompany compliance, real estate, insurance and shared services/information services) under one umbrella and provide focused oversight and direction, thereby increasing the effectiveness of all of the company's risk management activities.
During the past year, Interpublic has undertaken a number of initiatives to strengthen its commitment to corporate governance. These include a move to a fully independent Board of Directors in February and the naming of a Presiding Director last month. Elevating the risk management function to the senior executive level is another such initiative. In his new role, Dowling will continue to report to Sean F. Orr, the company's Chief Financial Officer; on matters relating to financial controls he will also now report to the Board of Directors.
Mr. Dowling joined Interpublic in 2000 as Vice President and General Auditor. More recently, as Senior Vice President, Financial Administration, he was responsible for Interpublic's worldwide insurance and real estate risk management function, management of the information technology function and management of the integration of the newly acquired True North Communications. Prior to joining Interpublic, Dowling held numerous financial positions during a 20-year career at Avon and was a senior auditor at Price Waterhouse in the mid-1970s. He holds an MBA in taxation and is a certified public accountant.
"I am pleased to announce Tom's promotion," said Interpublic Chief Financial Officer Sean F. Orr. "We are confident that under his leadership, our Enterprise Risk Management process will reflect and be responsive to the requirements of a company as large and complex as Interpublic."
Interpublic is one of the world's leading organizations of advertising agencies and marketing services companies. Its five global operating groups are McCann-Erickson WorldGroup, The Partnership, FCB Group, Interpublic Sports and Entertainment Group, and Advanced Marketing Services. Major global brands include Draft Worldwide, Foote, Cone & Belding Worldwide, Golin/Harris International, Initiative Media, Lowe Worldwide, McCann-Erickson, Octagon, Universal McCann and Weber Shandwick Worldwide.
|CONTACT:||The Interpublic Group, New York|
|Philippe Krakowsky, 212/399-8088|