The move, announced today, is effective immediately.
Additionally, Octagon co-founder Frank Lowe is handing over his responsibilities as chief executive to Les Delano, also an Octagon co-founder. Mr. Delano will be based in New York. Mr. Lowe remains chairman.
Additionally, Interpublic said today Lowe Lintas & Partners Worldwide will be renamed Lowe Worldwide in honor of Mr. Lowe, the agency's founder. The new name becomes official in January.