His departure follows Procter & Gamble Co.'s realignment of its advertising agency roster that cost his agency several brands for which he had been the steward for two decades.
Mr. McGrath was out of the office and not immediately available for comment, and Arnold executives didn't immediately return telephone calls.
Lynne Boles, manager of advertising development for P&G, confirmed that Mr. McGrath is retiring, but said Mr. McGrath's decision is a coincidence and that the account moves were part of a series of events set in motion when Publicis Groupe decided last month to close D'Arcy Masius Benton & Bowles. D'Arcy handled a number of accounts for P&G.
As part of a bid to increase
Bounty is going to Publicis Worldwide, Zest to Grey and Era to Publicis' Leo Burnett.
P&G issued a statement earlier today regarding its realignment, citing Mr. McGrath personally.
"We are grateful to Arnold McGrath, particularly Pat McGrath, for the enormous contribution they have made to our business," said Mark Ketchum, P&G's president global baby and family care, in a prepared statement. "Arnold McGrath helped us build Bounty into one of the company's great brands over almost two decades, in addition to strong work on Zest and Era. The decision to consolidate all of our business at Grey and Publicis was difficult because of this long and successful relationship."