NEW YORK After a year as a consultant to the agency he started in 1981, Lowe founder Frank Lowe is severing ties to the operation and assuming the honorary title of chairman emeritus, the agency said on Friday. At the same time, other top executives at the Interpublic Group shop are adding titles and leadership duties.
Lowe, 63, assumed the consulting role in January after relinquishing the title of worldwide chairman. The agency's worldwide chief executive title had been shifted from Lowe to Jerry Judge in 2001. The consultant's job paid $250,000 a year and Lowe's one-year contract expires on Dec. 31.
Lowe could not be reached, but, in a statement, he said, "My heart will always be in my agency. I take a great amount of pride in what we have accomplished as an agency and [have] confidence in all the next generation of management has yet to achieve."
The agency said that Adrian Holmes, worldwide chief creative officer, is adding the title of chairman, and Terry Rosenquist, worldwide director of client services, adds the title of vice chairman. Holmes, 50, joined the agency in 1982, and Rosenquist, 58, arrived in 1999, via Lowe's merger with Ammirati Puris Lintas.
Judge, 53, and Tim Lindsay, 47, remain CEO and worldwide president, respectively. In terms of U.S. operations, Tom Bernardin, 49, remains CEO and Gary Goldsmith, 49, retains the role of chief creative officer and chairman. All the top executives serve on Lowe's 11-member worldwide board.
"It's a small group of people dedicated to each other," Judge said. "We wish Frank well and our plan is to accelerate now."