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INTERPUBLIC CREATES NEW POST ON BOARD

Frank J. Borelli Named Presiding Director; Management Liaison

By Published on .

NEW YORK (AdAge.com) -- Interpublic Group of Cos. named Frank J. Borelli presiding director, a new board post responsible for liaising between the board and management.

The move is the latest change in

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corporate governance procedures at Interpublic, which restructured its board in February to give more influence to outside directors.

Mr. Borelli, who retired in 2000 as chief financial officer of financial services firm Marsh & McLennan Cos., has been an Interpublic board member since 1995 and chairs the audit committee.

His new appointment follows disclosures of earnings restatements and forecasts of lower revenue and profits, issues that earlier sent Interpublic stock tumbling.

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