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Michael Wall Joins as Global CEO
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Chairman Tony Wright Names Management Committee
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Steve Gatfield Moves into Part-Time Role as IPG EVP
Interpublic Group (NYSE:IPG) Chairman and CEO Michael Roth and Lowe
Worldwide Chairman Tony Wright today announced a number of significant
developments concerning the senior management team at Lowe Worldwide.
The agency network has been experiencing significant marketplace success
and industry recognition, including being named “Comeback Agency of the
Year” by Advertising Age in 2008.
The moves relating to Lowe’s leadership will ensure continuity in 2009
and beyond. They include the appointment of Michael Wall as the agency’s
new global CEO, the formation of a management committee and the move by
Steve Gatfield, whose three-year appointment as CEO of Lowe Worldwide is
ending, into a part-time role as IPG EVP, as envisioned in his agreement
with the holding company when he took the Lowe post. Wright and Wall
will work as partners in leading Lowe, and both will report directly to
Roth. Wall was the founding partner of Fallon London in 1998, where he
helped develop Fallon into one of the industry’s most successful and
awarded agencies, and subsequently rose to lead Fallon’s international
operations.
“Under Tony and Steve’s leadership, Lowe has made great strides over the
past two years in reclaiming its place as a global creative powerhouse.
Building on the agency’s ‘High Value Ideas’ platform, they reversed
revenue declines, significantly improved profitability at the network
and won major assignments from existing and new multinational clients,”
said Mr. Roth. “Attracting a major talent like Michael Wall reflects on
the success we’ve seen at Lowe in terms of the creative and strategic
product, as well as client wins and business results. By partnering Tony
and Michael, we feel that we have the best team in place to build on
Lowe’s positive momentum and creative positioning. Together, they can
lead the agency to even greater heights,” Roth added. “When we asked
Steve to assume the CEO position at the agency, it had been his
intention to move on at the end of his three-year contract. He does so
after having played a critical leadership role in Lowe’s revitalization,
for which we are very appreciative and for which we thank him,” Roth
concluded.
“With Michael coming on board, we are confident of a smooth transition
to a new management team,” added Mr.
