Elliott Management Strikes a Deal With IPG on Board Nominees

Pushing for better margins, succession plans at Interpublic

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Interpublic reached an agreement with activist investor Elliott Management: The agency holding company is nominating three new board members and creating a new finance committee to focus on margin expansion.

The settlement comes during the four-week window Elliott was given to nominate its own IPG board members before the company's May 21 annual meeting. Elliott will now back the new nominees. They were selected after a search and interview process involving both Elliott and IPG.

On the plus side for IPG, the settlement allows the company to influence the choice of new directors on a board that has long been compliant with management's decision making.

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