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|Interpublic Creates Mullen Lowe Group, Alex Leikikh Named CEO|
Move Aligns Leading U.S. Agency and Global Creative Network with
New York, NY - May 8, 2015 - Interpublic Group (NYSE: IPG) announced today that Mullen and Lowe and Partners will join to form Mullen Lowe Group, a creatively-driven global agency network with a strong, shared entrepreneurial heritage and challenger mentality.
Mullen Lowe Group combines two of the most highly-decorated and innovative agencies in the world and reinforces IPG's commitment to growing a third global full-service network within the company's portfolio. Alex Leikikh, previously Mullen's CEO, has been named Worldwide CEO of the new Mullen Lowe Group. Michael Wall, the Lowe and Partners CEO, helped create the roadmap for today's announcement and has decided to leave the company after a brief transitional period. The executive leadership team for the new entity will be drawn from both companies and across world markets, with Jose Miguel Sokoloff continuing in his position as Chairman of the Global Creative Council.
"We have been clear that, with the diversification of Lowe's offerings and its improved performance, the key for the network is now continuing its global growth, including the U.S., the world's largest ad market," said Michael Roth, Chief Executive Officer of Interpublic Group. "By creating Mullen Lowe Group, we can unlock this potential, and simultaneously provide a gateway to global talent and service infrastructure for one of our most dynamic and contemporary U.S. agencies. Clients will benefit from this combination of talent and creativity, as well as the fact the agencies have highly complementary cultures. Additionally, we see this as an excellent opportunity to engage Alex on a global stage and bring his strong leadership and proven track record as a builder of teams and business to one of the industry's outstanding creative networks."
"For Mullen, an ability to help our clients compete internationally has always been part of a broader growth strategy," said Leikikh. "We are only as good as the talent we can attract and we owe it to our clients to put the world's best minds to bear on their brands. Together, Lowe and Mullen have some of the world's top people working across all major world markets. We have tremendous strength in the U.K, with great creative talent in high-growth markets that will remain at the core of our offering. The shared spirit of both agencies will drive a global creative group focused on clients who share our 'always think like a challenger' approach. The timing and the partnership are perfect, as we have U.S. clients asking us to take them global and we have a common goal with Lowe to be the most innovative and creative agency in the world."
"We have been working with the team at IPG on this plan to enhance Lowe's progress in terms of its capabilities in the key markets around the world," said Wall. "The addition of Lowe Profero has really put digital at our core, and there is some nice momentum with new client business across the network. The U.S. is the key piece to accelerating this performance. And with Alex and the exceptional team at Mullen there is a great basis to build on our mutual success."
All Lowe agencies in key international markets will report to Mullen Lowe Group and Mr. Leikikh. Plans are in place to migrate agencies to the Mullen Lowe branding for the bulk of Lowe's current international markets as appropriate over the course of 2015 and 2016.
LOWE AND PARTNERS FACTS
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