NEW YORK (AdAge.com) -- Philip Geier, chairman and CEO of the Interpublic Group of Cos., said in a statement he will relinquish the chairman title and his seat on Interpublic's board of directors Jan. 1.
Last March, Mr. Geier announced he would step down as CEO at year-end, but would remain with the company as chairman.
Instead, he will become chairman emeritus and an advisor to the board. John Dooner, president and chief operating officer of Interpublic and Mr. Geier's chosen successor, had been slated to assume the CEO title Jan. 1, and will now become chairman as well.
"I feel confident that I am leaving our employees, clients and shareholders in great hands," Mr. Geier said in a statement. "I will continue to be available on certain specific assignments, as well as with certain clients."