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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): February 27, 2003
The Interpublic Group of Companies, Inc.
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(Exact Name of Registrant as Specified in Charter)
Delaware 1-6686 13-1024020
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(State or Other Jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification No.)
1271 Avenue of the Americas, New York, New York 10020
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: 212-399-8000
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events and Regulation FD Disclosure.
On February 27, 2003, The Interpublic Group of Companies, Inc. issued a press
release, a copy of which is attached hereto as Exhibit 99.1.
Item 7. Financial Statements and Exhibits.
Exhibit 99.1: Press Release of The Interpublic Group of Companies, Inc., dated
February 27, 2003.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE INTERPUBLIC GROUP OF COMPANIES, INC.
Date: February 28, 2003 By: /s/ Nicholas J. Camera
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Nicholas J. Camera
Senior Vice President, General Counsel
and Secretary
Exhibit 99.1
[THE INTERPUBLIC GROUP OF COMPANIES, INC. LOGO] -- OMITTED
THE INTERPUBLIC GROUP OF COMPANIES INC.
WORLDWIDE ADVERTISING AND MARKETING COMMUNICATIONS
1271 Avenue of the Americas, New York, N.Y. 10020
FOR IMMEDIATE RELEASE
Management Changes at Interpublic and McCann-Erickson WorldGroup
John Dooner Returns to Lead McCann as Chairman and CEO; David Bell Named
Chairman and CEO of Interpublic
NEW YORK, NY (February 27, 2003) -- At a regularly scheduled meeting, the Board
of Directors of the Interpublic Group (NYSE: IPG) today announced significant
changes in the top management of both the holding company and its largest unit,
the McCann-Erickson WorldGroup.
Interpublic Chairman and CEO, John J. Dooner, Jr., 54, will assume an active
operating role as Chairman and CEO of McCann, replacing James R. Heekin, 53, who
will be leaving the company. Mr. Dooner will retain his seat on Interpublic's
Board of Directors. David Bell, 59, will succeed Dooner as Chairman and CEO of
The Interpublic Group and re-join the Board of Directors. Mr. Bell had been Vice
Chairman at Interpublic since the holding company he previously headed, True
North Communications, was acquired by Interpublic in 2001. Mr. Bell and Mr.
Dooner will assume their new responsibilities on Thursday, February 27, 2003.
According to Frank Borelli, who continues as Presiding Director of the
Interpublic Board, "John's decision is a bold one - for Interpublic to succeed,
McCann must lead the way. We are very pleased that he is returning to the things
he loves most: serving clients, creating great advertising and leading McCann,
which John built into a global integrated marketing powerhouse during his
16-year tenure there. He is demonstrating real leadership by stepping into an
operating role, where he can have the greatest positive impact on Interpublic's
financial results and on increasing shareholder value."
Borelli added, "In David, we are fortunate to have an executive who is so well
suited to assume the responsibilities of Chairman and CEO. He is widely
respected in the advertising industry world, where he was a successful agency
leader, the only person to have chaired all of the industry's leading
professional associations and the head of a major holding company. In this last
role, David demonstrated that he has the skill set, visibility and credibility
to effectively reach out to the financial community."
"My only interest is, and has always been, the success of Interpublic," said Mr.
Dooner. "When the major operating companies are running on all cylinders, the
holding company naturally thrives. McCann is our lead engine and it must be a
market leader, in terms of both its performance and its standing in the
industry. The financial and operational challenges of 2002 have taken a
significant toll on the agency and its management. It's an organization I care
about, with whose clients I have long and deep relationships. I'm very excited
about what we can do there and about returning to 'active duty' as an
advertising and marketing practitioner."
According to Mr. Bell, "I am looking forward to working with the heads of all
our companies in leading Interpublic forward. Our focus must continue to be on
improved operating performance. I am confident I can make significant
contributions in driving organic growth and creating value for our
shareholders."
About 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 Information
Press:
Philippe Krakowsky
(212) 399-8088
Investors:
Susan Watson
(212) 399-8208
Biographical Information Follows
About David Bell
David Bell, an industry leader in marketing communications, is Vice Chairman of
The Interpublic Group of Companies, the world's largest marketing communications
and services company.
Prior to its merger with Interpublic, Mr. Bell was Chairman and Chief Executive
Officer of True North Communications Inc., the world's sixth largest global
advertising and marketing communications holding company. Under his leadership,
True North global brands (including FCB Worldwide, BSMG and Marketing Drive)
expanded the company's competitiveness while significantly improving True North
shareholder value in just two years. He also established a culture of
collaboration across True North brands on behalf of clients seeking broader
solutions, significantly driving organic growth.
Before his appointment to CEO of True North, Mr. Bell lead Bozell Worldwide as
President and Chief Executive Officer. During his career at Bozell, the agency
grew from $12 million to over $500 million in revenue. He came to Bozell in
1975, when the agency acquired Knox Reeves Advertising, where he had been
President since 1972. Prior to that, he was an Executive Vice President; the
agency's youngest Vice President; and an Account Executive. Mr. Bell began his
career at Leo Burnett in its Executive Development Program.
A 1965 graduate of Macalester College in St. Paul, Minnesota, Mr. Bell was
President of the student body and a champion debater. Later becoming the
college's youngest Trustee, he received both the Macalester College
Distinguished Alumni Award and its Charter Centennial Medallion.
Mr. Bell serves the industry as Chairman of The Advertising Council.
Concurrently he also gives his time and expertise as Chairman of the Advertising
Educational Foundation and PRO-AD PAC, the industry's Political Action
Committee. Throughout his career Mr. Bell has held key industry leadership
positions including Chairman of the American Association of Advertising Agencies
in 1996-97 and two-time Chairman of the America Advertising Federation.
He serves on the Board of Directors of Primedia Inc. and The Partnership for New
York. In addition, he is a Director of the National Forest Foundation and a
Trustee of the Convent of the Sacred Heart school in New York City. He is a past
Trustee of both Macalester College and The Pittsburgh Theological Seminary.
David Bell lives in Manhattan with his wife, Gail, and their son Andrew. His
daughter Ashley is a freshman at Yale.
About John Dooner
John J. Dooner, Jr. was named Chairman and Chief Executive Officer of The
Interpublic Group of Companies, Inc. (NYSE: IPG), effective January 1, 2001. He
had held the position of President and Chief Operating Officer since March 2000.
Previously, he was Chairman and Chief Executive Officer of Interpublic's
McCann-Erickson WorldGroup and is credited with leading McCann-Erickson in its
transformation from the leading global advertising agency to one of the world's
largest and fastest-growing integrated marketing communications organizations.
The success of this transformation is reflected in the "Agency of the Year"
honors McCann-Erickson won in 2000 from all major trade publications, including
Advertising Age, Adweek, Business Marketing, and Media and Marketing Europe.
Vision, energy and a persistent dedication to growing by serving clients have
characterized all of Mr. Dooner's 27-year career with Interpublic. His tenure
has been highly noted in the industry for its extraordinary new business record,
for improving the creative and overall quality and reputation of the companies
he has headed, and for aggressively expanding the range of communications
competencies offered.
Since Mr. Dooner took over as McCann-Erickson's CEO in 1994, the company has
tripled in size. McCann-Erickson WorldGroup, the global marketing communications
management company formed by Mr. Dooner in September 1997, is today a
$20-billion plus (in billings) enterprise comprised of the McCann-Erickson
Worldwide advertising agency network as well as a portfolio of specialized
marketing communications companies. These other companies include: McCann
Relationship Marketing (MRM) Worldwide; Momentum Worldwide (event
marketing/sales promotion); FutureBrand (brand equity consulting/design) and
McCann Healthcare Worldwide. In addition, through IPG, WorldGroup is allied with
Shandwick International (public relations) and Zentropy Partners (on-line
marketing).
Mr. Dooner was named Chairman and CEO of McCann-Erickson Worldwide in January
1995 five months after becoming President, Chief Executive Officer. Previously,
he was President, Chief Operating Officer, a position he assumed in 1992.
Earlier, from 1988-1992, he was President of McCann-Erickson North America. He
joined McCann in 1984 as SVP, Worldwide Account Coordinator, responsible for
such major international clients as Coca-Cola and Gillette. The following year
he was named EVP, General Manager of McCann New York. During his four years as
head of the New York operations, billings more than doubled and in 1989 he was
named Adweek's "East Coast Executive of the Year."
Before coming to McCann, Mr. Dooner was with Marschalk (now Lowe Lintas &
Partners Worldwide). After joining that agency in 1973 as a media department
Manager, he transferred to the account side and rose through the ranks becoming
EVP, Director of Account Management and Board member in 1983. He began his
career in the media area of Grey Advertising in 1970.
Mr. Dooner is a Charter Member of the President's Advisory Council of CARE;
serves on the Boards of Directors of the National Multiple Sclerosis Society and
the Sound Shore Medical Center and is on the Board of Trustees of the College of
New Rochelle. In 1997 he was honored with the National Human Relations Award by
The American Jewish Committee. He holds a B.A. from St. Thomas Villanova
University.