Advertising conglomerate Interpublic Group is taking legal action against legendary adman Frank Lowe for alleged violation of "contractual and fiduciary duties"
Lowe, who 'retired' as chairman of the IPG-owned eponymous agency he founded in 2003, emerged late last year from his potting shed to launch a new shop [WAMN: 05-Dec-05].
To add insult to injury he wooed Paul Weinberger, chairman of Lowe Worldwide's London office, to his new enterprise and the much coveted £45 million ($77m; €66m)Tesco supermarket account.
US-headquartered IPG contends that Frank Lowe (65) has "chosen to use contacts and proprietary knowledge to damage Lowe and Interpublic" and has filed its grievance with the American Arbitration Association. IPG is seeking financial compensation and intends "to hold any Lowe employee seeking to join Mr Lowe to their full notice period".
A spokesman for Frank Lowe would only say: "We have no knowledge of this action apart from what we've seen on the newswires."
The as yet unnamed start-up has attracted a number of high profile names from several London agencies, including JWT managing director Mark Cadman and Paul Hammersley, ceo of DDB London.
Data sourced from Adweek (USA); additional content by WARC staff