Schultz Resignation at Initiative Confirmed

17 January 2002

As predicted Monday [WAMN: 14-Jan-01], Lou Schultz is leaving his post as chairman/ceo of Initiative Media Worldwide. He will take up a short-term role as a consultant to John Dooner, chairman/ceo of Initiative’s parent Interpublic Group.

No replacement has been named, though Interpublic vice chairman David Bell has established an office of the ceo alongside Marie-Jose Forissier (president/chief operating officer, Initiative Media) and Carolyn Bivens (president/chief operating officer, Initiative Media North America).

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