Interpublic Co-Chairman Will Retire, To Become Chairman Emeritus
NEW YORK--(BUSINESS WIRE)--March 17, 2006--The Interpublic Group (NYSE: IPG) announced today that Co-Chairman David Bell is retiring, will become Chairman Emeritus and will have an ongoing consulting relationship with the company.
"We support David's decision to make this transition," said Interpublic Chairman and CEO Michael Roth. "We appreciate his many contributions and are pleased that he will continue be available to assist us on specific industry or client initiatives. Above all, we wish him well."
"I am pleased to have been in position to step into the leadership role at Interpublic during a difficult time and I will continue to help the company in my consulting role in the years to come," said Mr. Bell. "Professionally, I still have as many things on my 'to do' list as on the list of things that I have accomplished. What's more, I have many passions outside of the business, to which I look forward to devoting more time and energy."
Mr. Bell, 62, has been with Interpublic and a number of its precursor agencies for 39 years, rising to the CEO post at four of those companies. First, at Knox-Reeves, where he began his career. After that agency was acquired by Bozell, he went on to become Chairman and CEO there as well, leading its growth into a vital international network. He then moved on to Bozell's parent company, True North, the world's sixth-largest provider of global marketing services, where he led the expansion and re-invigoration of the company's agency brands, which in turn resulted in significant creation of shareholder value.
When True North was acquired by Interpublic in 2001, Mr. Bell became a Vice Chairman, leading The Partnership and the Advanced Marketing Services divisions. During a challenging period for Interpublic, from early 2003 through 2004, he served as Chairman and CEO of Interpublic as it pared a number of non-core and poorly performing assets, began to recapitalize its balance sheet and refocused on collaboration and organic growth. Mr. Bell had most recently been Co-Chairman of Interpublic, focusing on relationships with certain existing clients and a number of business development initiatives.
Mr. Bell serves the industry as Past Chairman of The Advertising Council and Co-Chair of its Advisory Committee, Chairman Emeritus of the Advertising Education Foundation and Chairman of PRO-AD PAC, the industry's political action committee. He has served as Chairman of the American Association of Advertising Agencies, and two-time Chairman of the American Advertising Federation. He also serves on the Board of Directors of Primedia, Warnaco and The Partnership for New York.
About Interpublic
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, FutureBrand, GolinHarris International, Initiative, Jack Morton Worldwide, Lowe Worldwide, MAGNA Global, McCann Erickson, Octagon, Universal McCann and Weber Shandwick. Leading domestic brands include Campbell-Ewald, Deutsch and Hill Holliday.
CONTACT: For The Interpublic Group
Philippe Krakowsky, 212-704-1328
or
Analysts, Investors:
Jerry Leshne, 212-704-1439
SOURCE: The Interpublic Group