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NEW YORK Interpublic Group shareholders today rejected a proposal to split the roles of chairman and CEO and another for investors holding at least 10 percent of the company’s outstanding common shares to call special meetings.
IPG had urged shareholders to oppose each measure.
The special meeting proposal, however, garnered support from 43 percent of those who voted—a relatively strong showing for a first-time proposal.
About 56 percent of the voters opposed it and 1 percent abstained. The vote against separating chairman and CEO—titles now held by Michael Roth—was more lopsided, with 87 percent opposing it, 11 percent supporting it and the rest abstaining.
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