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Initiative Media’s Lou Schultz within two weeks will replace Mike Lotito, who resigned as president/COO of the Interpublic Group media agency’s U.S. operation last week to take a role at parent IPG.
Like Lotito, whoever becomes pres ident of Initiative Media North Amer ica will also be a leading candidate to succeed agency chairman and CEO Schultz when he retires. But unlike Lotito, the new president will not necessarily be from the IPG family.
“[Hiring within Initiative or IPG, or going outside] are all possibilities,” said Schultz.
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