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Interpublic’s formidable and mounting financial woes aren’t its only massive challenge. The holding company is defending nearly $4 billion in General Motors and L’Oréal billings, the latest in a series of high-stake reviews in which it’s been forced to defend big accounts—some lost to the operating entities that manage the media networks of WPP Group and Publicis Groupe. Now, IPG said it’s ready for a new approach.
Last week’s exit by two of its top four media agency executives was the beginning of “a repositioning of all our assets,” said IPG CEO Michael Roth.
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