INITIATIVE MEDIA PRESIDENT TO HEAD NEW IPG VENTURE

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Initiative Media North America is losing Mike Lotito, 40, president and chief operating officer, to a new undisclosed venture being created by the media agency's parent, Interpublic Group of Cos. Mr. Lotito would only say that the new company, which he will head, is "not a media planning and buying operation. It's a great opportunity. I know its the right thing for me."

IPG will announce the new company within two weeks. Mr. Lotito has been with Initiative since 1999.

Copyright March 2001, Crain Communications Inc.

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