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Tag: Michael I. Roth

  • IPG names Philippe Krakowsky as new CEO

    IPG names Philippe Krakowsky as new CEO

    KOLKATA: IPG has named Philippe Krakowsky as chief executive officer effective 1 January 2021. Michael I. Roth, the current chairman and chief executive officer will remain in his current role until then and when he will become executive chairman of the Board.

    Krakowsky is currently the executive vice president and chief operating officer of IPG and the chairman of IPG Mediabrands, with direct oversight of several IPG companies.

    "Philippe is the right CEO for the next era at IPG," said Roth. "He is a brilliant strategist and effective leader who has played a key role in developing our open architecture client service model, as well as modernizing our data, marketing services and media solutions. Our partnership over the years has been a key factor in our long-term success with both clients and our people.”

    “Through his multiple experiences running businesses and corporate functions at IPG, Philippe has built an outstanding track record of delivering growth for clients and IPG. In working with him for these past 18 years, I’ve seen first hand that Philippe is a values-driven leader who is well-positioned to lead IPG and our clients into a new era of marketing. He cares about people and leads with his head and his heart,” Roth added.

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    Roth joined the IPG board in 2002 and chaired its Audit Committee until his appointment as Executive Chairman and co-CEO in 2004, and CEO in 2005. During his tenure as CEO, Roth righted the company’s financial course and made IPG an industry leader through organizational and financial restructuring, building a culture of collaboration, and ensuring IPG remained ahead of its peers through the early adoption of data-centric and digital-first tools across the entire organization.

    As a result, in each of the past five years, IPG’s growth rate has outperformed the industry average, and total shareholder return has topped IPG’s peer group over trailing one-, three-, five-, and 10-year periods, marking a reliable level of achievement and progress during a time that saw significant change in the industry with constantly evolving market dynamics.

    Roth’s tenure is also highlighted by his commitment and investment towards diversity and inclusion as a cornerstone of the organization. Under Roth’s leadership, IPG made diversity and inclusion a key aspect of how IPG’s leadership team and individual businesses are graded and introduced ambitious goals to create long-term culture change. Since Roth began implementing IPG’s formal diversity and inclusion programs, the company has seen important shifts in its workforce for people of color and women; however, as Roth has consistently said, “There is still much work to be done on this front.”

    “Michael’s leadership of IPG has been and continues to be outstanding. He has substantially transformed the company and ushered in a new era of modern marketing solutions," said David Thomas, presiding director of the IPG Board of Directors.  "He has taken bold strategic actions to reposition IPG for the future, focusing the company on the right business lines, growing digital and data capabilities organically and through acquisition, all while advancing diversity and employee engagement and setting the industry standard for growth and margin expansion. As Executive Chairman of IPG, Michael will work closely with the Board and with Philippe in his new role and with senior company executives on continuing to manage through changes related to COVID-19 and help shape the future of IPG.”

    "Having led one of the great turnarounds in American business, and establishing a strong foundation for its future, Michael has transformed IPG into an industry leader, and the Board is confident that Philippe is the right CEO for IPG’s next phase of continued value creation for all of our stakeholders," Thomas continued.  "Working with Michael, our multi-year succession process found in Philippe a leader with empathy, operational and management skills, a respect for talent and a vision for a digital-and-data-first marketing company – all of which will guide IPG at this fast-moving time.”

    “Philippe operates at that rare intersection of courage, drive and emotional intelligence. He looks to the future and sets ambitious goals for the company and its leaders – and he succeeds because he is a true collaborator who shares success with the team and uplifts them during the hard days. He’s been a strategic partner to me over the past 18 years, helping make IPG the company it is today,” added Roth.

    “It’s an honor to be elected as the next Chief Executive Officer of IPG, and I appreciate the confidence that Michael and the Board have placed in me,” said Krakowsky.  “With our people, agency brands, technology companies, and culture, we are uniquely positioned to help our clients solve their toughest business challenges. I am looking forward to working with our fifty-thousand people and all our clients around the world at this unique time, where we are seeing changes in media and consumer behavior accelerate at incredible speed. We have great opportunities ahead to help clients deepen their relationships with their customers, doing so efficiently, creatively and at-scale.”

    Krakowsky, 58, is Executive Vice President and Chief Operating Officer for IPG, where he works with the CEO to manage business operations across Interpublic. Philippe is also the Chairman of Mediabrands and oversees IPG’s independent companies Acxiom, Carmichael Lynch, Deutsch, Hill Holliday, Huge, Kinesso, Matterkind and R/GA. During his 18 years at IPG, Philippe has also overseen communications, business development, strategy and talent functions, and he remains the Chief Strategy Officer for IPG. Prior to being named COO at IPG, Philippe also held the role of CEO of Mediabrands, leading the 10,500-person unit that oversees marketing investment for many of the world’s most iconic brands. He has served on the boards of several IPG companies, including Huge and the IPG-backed O’Keefe Reinhard & Paul; he mentors start-ups as part of R/GA’s Accelerator; and he served as interim CEO of FCB for much of 2013, during the agency’s leadership transition. Originally from Mexico, Philippe holds an A.B. from Harvard University. He started his career as part of a team that built and ultimately sold an artificial intelligence software company to Apple Computer.

  • Carter Murray Named CEO of Draftfcb Worldwide

    MUMBAI: The Interpublic Group (IPG) has named Carter Murray Draftfcb Worldwide CEO. He replaces Laurence Boschetto, who will remain with the agency through a transitional period and then serve as a Senior Advisor to IPG in a consulting capacity. Murray will be based out of New York.

    Thirty eight year old Murray comes in from WPP’s Y&R, where he was president and CEO for North America and Y&R New York CEO. He has previously served as chief marketing officer and worldwide account director on Nestlé, as well as a member of the executive committee at Publicis Worldwide.

    Murray began his career at Leo Burnett in Chicago and has held a number of posts at the agency, including stints in Germany and the United Kingdom. Howard Draft will continue in his role as executive chairman at Draftfcb.

    IPG chairman and CEO Michael I Roth said, “We‘re very pleased to welcome Carter in this key role at an important time for Draftfcb. He understands consumer advertising and brands, has demonstrated the ability to motivate diverse teams and raise the quality of creative work, nurture client relationships and win global business. This combination of skills and experience in a dynamic new leader is what the agency needs in order to evolve its integrated model and drive growth.”

    Roth added, “We thank Laurence for his contributions to our search for his successor and to the agency, including a consistent and high level of operational and financial delivery. We wish him well in his ongoing industry activity, particularly in the area of diversity and inclusion, where we will continue to work together.”

    Murray said, “I am greatly looking forward to this opportunity. Draftfcb has outstanding people, clients and a commitment to putting together the best of brand advertising and accountable communications disciplines, such as digital, CRM and activation. That‘s a powerful promise we must make good on. When we do, the Draftfcb offer will be hard for clients to resist. Working with the strong leadership teams across the network and with Interpublic‘s continued support, I feel we can deliver on that vision and do something really special.”

    Boschetto said, “Carter brings energy, a new perspective and range of talents that will take us to the next level. I‘ll do everything to help him step into the CEO role seamlessly and I know our senior teams will do so as well. I thank all of our nearly 9,000 people around the world for their support and I know the agency‘s best days are ahead. Moving onto the next chapter personally, in working to promote our industry and in particular to work for greater diversity among our ranks, is something to which I am very much looking forward.”

  • IPG feels impact of US as revenue falls marginally in 2012

    MUMBAI: US-based media communications conglomerate Inter Public Group reported revenue of $6.96 billion for the year ended 31 December 2012, down from $7.01 billion a year ago.

    Organic revenue increased 3.8 per cent internationally due to growth from existing clients and new business won in high-growth geographic markets. In the US, however, organic revenue decreased 1.8 per cent reflecting the significant impact of account losses for the last two years.

    For the year 2012, IPG‘s net income was $435.1 million compared to full year 2011 net income of $520.7 million.

    Fourth quarter 2012 revenue was $2.06 billion, compared to $2.07 billion in the fourth quarter of 2011. Fourth quarter 2012 net income was $313.3 million, an increase of nearly 21 per cent from the net income of $259 million a year ago.

    IPG chairman and CEO Michael I Roth said, “2012 challenged us in terms of growth, due in large part to account losses suffered in 2011, but we demonstrated our ability to control expenses and drive significant value creation through our strong balance sheet and the return of capital to our owners. Our offerings are highly competitive and we are coming into this year in a much stronger position with respect to client retention and new business activity. In key growth areas, such as emerging economies and digital capabilities, we will continue to build on recent success through further investments in talent and capabilities. Given the macro environment, we will remain vigilant in managing costs. In 2013, we expect to return to organic revenue growth performance commensurate with our peers. With growth in the 2-3% range, an improvement of 50 basis points on this year‘s operating margin is an achievable target. Our Board‘s actions today in raising the quarterly dividend by 25% and authorizing an additional $300 million in share repurchase demonstrate our confidence in the operating trajectory of the business. Improved top line performance, sustained focus on margin delivery and our ongoing commitment to capital return programs will position us well to drive significant earnings growth and enhanced shareholder value in 2013 and the years to come.”

  • IPG sells remaining shares in Facebook

    MUMBAI: The Interpublic Group (IPG) has sold its remaining shares in Facebook Inc. for net cash proceeds of $95 million and expects to record a pre-tax gain of $94 million.

    Interpublic chairman and CEO Michael I. Roth said, “The value of the investment we made in Facebook in 2006 has increased significantly during the last six years. We decided to sell our remaining shares in Facebook as our investment was no longer strategic in nature. Simultaneously, our board has authorized an increase in our share repurchase program of $100 million. We view this as another opportunity to enhance shareholder value reflecting the confidence we have in our company.”

    The global media communications network entered a strategic partnership with the social media networking website in 2006. As part of the agreement, Interpublic was to participate in marketing programs on the website, including online advertising and promotions, as well as pilot programs involving sponsorships, consumer research and content creation on behalf of its clients. Interpublic has also agreed to acquire less than one-half of one per cent of Facebook.

    Interpublic announced that its Board of Directors has authorised an increase in its existing share repurchase program from $300 million to $400 million. As of September 30, $151 million had been used under the authorisation. The share repurchase program has no expiration date.

  • IPG shuffles McCann Worldgroup senior team

    MUMBAI: The Interpublic Group has elevated Harris Diamond from his position as chairman and CEO of IPG’s Constituency Management Group (CMG) to the same role at McCann Worldgroup, replacing Nick Brien.

    Also, Luca Lindner and Gustavo Martinez have been given broader mandates within the company with significant geographic responsibilities and full oversight of McCann Erickson Advertising. The trio of Lindner, Martinez and Diamond will occupy a newly-created, three-person office of the Chairman for McCann Worldgroup.

    In his new regional role, Lindner will also take charge of Middle East and Africa apart from the Americas while Martinez will add Asia Pacific responsibilities to his current title of president, Europe for McCann Worldgroup. As Diamond takes on his new position, the marketing services agencies that make up the Constituency Management Group will report directly into Interpublic management.

    Interpublic chairman and CEO Michael I Roth said, “Harris understands the business needs of global CEOs, across a range of industries. He has a proven track record of effectively managing a portfolio of agencies and growing the top line. He has created a strong culture of collaboration, which is increasingly key in a marketing landscape that requires integration of services. And he brings a deep knowledge of McCann in light of the alignment between Worldgroup and a number of the agencies within CMG, such as Weber Shandwick and FutureBrand. In Luca and Gustavo, we are fortunate to have two outstanding, seasoned practitioners with a deep understanding of the advertising industry and McCann’s fundamental strengths. Over the past year, as co-Presidents of Global Clients for Worldgroup, they have played increasingly key roles in strengthening the agency’s relationships with major clients. Their continuing leadership and complementary skill set will be key to McCann’s future success. We thank Nick for his commitment and for driving change at McCann during his tenure.”