Report to CEO
Mr. Rednor, who grew up in banking and finance and led Draft's expansion over the past five years, will report directly to Interpublic Chairman-CEO John J. Dooner Jr.
Mr. Rednor said the scope and role of his position are yet to be determined, and details are still being worked out.
It is still unclear whether Draft will fill the post Mr. Rednor is vacating by an outsider or insider.
"Draft is currently reviewing a reorganization plan to determine the most efficient way to operate the company going forward," Mr. Rednor said.
Howard Draft will remain chairman-CEO of the agency.