Interpublic Shareholders Overwhelmingly Support Board and Management Recommendations
NEW YORK--(BUSINESS WIRE)--May 25, 2006--Interpublic (NYSE: IPG) today held its 2005 Annual Meeting in New York. During the meeting, its board members and management resolutions received overwhelming support from shareholders.
88.5% of the total outstanding shares, or 385,758,248, voted either in person or by proxy. The following resolutions were voted on:
-- The stockholder's resolution to separate the roles of CEO and Chairman of the Corporation was defeated by 92% of shareholders. -- The stockholder's resolution to recoup certain management bonuses was defeated by nearly 95% of shareholders. -- The proposal to adopt the 2006 Performance Incentive Plan of Interpublic was approved by 75% of stockholders. -- Management's proposal to confirm PricewaterhouseCoopers was approved by over 97% of stockholders. -- All eight board members proposed were re-elected to the board of directors. Frank J. Borelli was elected by 96.5% of those voting , Reginald Brack with 96.6%, Jill M. Considine with 97%, Richard A. Goldstein with 97.9%, H. John Greeniaus with 96.2%, Michael I. Roth with 97.3%, J. Phillip Samper with 96.7% and David M. Thomas with 97.9%.
"We are very pleased with the overwhelming support of our shareholders," commented Michael I. Roth, Chairman and CEO, Interpublic Group. "The votes indicate that they understand the work management and the Board are doing to put Interpublic back on track. This is clearly an endorsement of our progress thus far and a strong positive statement about our future prospects."
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, Momentum, MRM, Octagon, Universal McCann and Weber Shandwick. Leading domestic brands include Campbell-Ewald, Carmichael Lynch, Deutsch, Hill Holliday, Mullen and The Martin Agency.
CONTACT: Interpublic Philippe Krakowsky, 212-704-1328 or Analysts, Investors: Jerry Leshne, 212-704-1439 SOURCE: Interpublic