Initiative Switches CFOs

NEW YORK — Six months after joining The Lowe Group as chief financial officer, Suzanne Gilbert is moving to Interpublic Group of Cos. sibling Initiative Media Worldwide to become vice chairman and CFO.

Gilbert replaces Joseph Studley, who is expected to become CFO of The Partnership, sources said. The Partnership is the new group of agencies formed as a result of IPG’s acquisition of True North Communications.

The move also comes as IPG embarks on a sweeping reorganization resulting from its acquistion this week of True North. Gilbert brings 25 years of agency experience with her and will oversee all of Initiative’s financial operations. She has also been named to Initiative’s board of directors.

Before arriving at Lowe six months ago, Gilbert was evp, chief financial and administrative officer of Campbell-Ewald, where her clients included General Motors, Chevrolet and Continental Airlines.

Gilbert will report directly to Lou Schultz, Initiative’s chairman and CEO.