McCann Erickson WorldGroup's chief financial officer Art D'Angelo is leaving the network after less than a year in the role.
D'Angelo was poached from Cordiant Communications last November to replace Salvatore LaGreca, who resigned in the wake of the network's accounting irregularities [WAMN: 26-Nov-03]. McCann's financial problems were the prime factor in forcing parent Interpublic Group to issue a series of earnings restatements totalling $181.3 million (€155.1m; £108.7m).
The reasons for D'Angelo's departure have not been disclosed. He will stay at McCann until the end of the year.
Into his shoes will step Ramesh Rajan, Interpublic's senior vp and director of financial operations. It is thought he will report to IPG chief operating officer Chris Coughlin and McCann chairman/ceo John Dooner.
Data sourced from: BrandRepublic (UK); additional content by WARC staff