New Chief Operating Officer Appointed at Lowe Worldwide; Ed Powers to Join Tony Wright in Key Operations Role
NEW YORK--(BUSINESS WIRE)--Sept. 15, 2004--Interpublic (NYSE:IPG) announced today that Ed Powers has been named Chief Operating Officer of Lowe Worldwide. Mr. Powers, 46, will work directly with Tony Wright, the agency's newly appointed Worldwide CEO and President. Powers, who had most recently been Chief Operating Officer of Interpublic's Constituency Management Group (CMG), which houses a number of marketing services firms, will assume his new responsibilities at Lowe on November 1, at the same time Mr. Wright joins the agency.
"We believe Ed and Tony will make a great team," said David Bell, CEO and President of Interpublic. "Ed has exceptional operational skills and financial expertise. He will primarily focus on supporting Tony in those areas, which will ensure that Tony can focus on clients and the creation of big ideas. Together with the new management recently installed at Lowe offices in a number of key global markets and a number of recent important additions at Lowe Worldwide, Tony and Ed have what it takes to restore Lowe to its rightful place in the top echelon of global creative agencies."
At CMG, which is comprised of public relations, corporate and brand identity, as well as sports and event marketing firms, Mr. Powers was responsible for worldwide operations, including finance, business planning, human resources, MIS, real estate and facilities management. Prior to his role at CMG, Powers was Chief Operating Officer of Weber Shandwick, the world's largest PR firm, where he helped lead the agency's successful merger with BSMG Worldwide. Powers had previously managed the business operations of BSMG Worldwide during a period in which the agency grew from a $10 million U.S.-based operation to a nearly $200 million global company. An 18-year veteran of Bozell and True North Communications, Powers began his career on the audit staff of Price Waterhouse. He is a CPA and also holds an MBA in finance.
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, GolinHarris International, Initiative, Lowe & Partners Worldwide, McCann-Erickson, Universal McCann, Octagon, Jack Morton Worldwide and Weber Shandwick Worldwide. Leading domestic brands include Campbell-Ewald, Deutsch and Hill Holliday.
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