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Interpublic Names Bill Kolb as Worldgroup's Chairman and CEO

Zacks.com logo Zacks.com 10/16/2020

Interpublic Group IPG yesterday announced that it has named Bill Kolb as chairman and CEO of its McCann Worldgroup unit.

Kolb is a global leader in marketing and integrated communications and succeeds Harris Diamond who will retire at the end of the year. Kolb, most recently, was McCann Worldgroup’s chief operating officer (COO) before which he served as global president, Diversified Agencies. He joined McCann Worldgroup in 2000 and held several top positions, working across Momentum, MRM and McCann.

Diamond spent around 20 years with Interpublic, leading a number of global marketing communications networks.

Michael I. Roth, chairman and CEO of IPG, said, “Bill’s long and successful history at McCann spans over two decades, and uniquely positions him to develop the Worldgroup model for the future. With the transition support of Harris, we’re confident the company can continue to deliver on its vision of being the world’s top creatively-driven marketing services organization.”

Notably, shares of Interpublic declined 22.2% year to date compared with 37.7% decline of the industry it belongs to and 8.3% growth of the Zacks S&P 500 composite.

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Zacks Rank & Stocks to Consider

Interpublic currently carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the broader Zacks Business Services sector are Republic Services RSG, S&P Global SPGI and TransUnion TRU, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The long-term expected earnings per share (three to five years) growth rate for Republic Services, S&P Global and TransUnion is 7.9%, 10% and 14%, respectively.

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