Lowe Worldwide accepts Prem Mehta's decision to retire

25 April 2008

New York: Lowe Worldwide today announced the acceptance of Prem Mehta's decision to opt for early retirement.

''In January this year, Prem expressed a desire to retire as chairman and managing director, which, following a Board meeting, Lowe Worldwide has now respectfully accepted,'' said Steve Gatfield, CEO Lowe Worldwide.

''We are pleased to recognise Prem's valuable role in steering the Indian company to its current stature, both in India and internationally. The board of Lintas, Lowe Worldwide and the InterPublic Group wish Prem the very best as he leaves the organisation that he has been a part of for 28 years,'' he added.

Steve Gatfield assumes chairmanship of the Lintas India Board.

Under Prem Mehta's leadership, Lintas India has charted impressive growth in revenue, profits and net worth, while delivering an exceptionally effective product to some of the most discriminating advertisers in the country. His vision led the company's diversification programme into key areas of marketing communications. Lintas India is now a wholly owned subsidiary of the Interpublic group (IPG).

A statement from Lintas said that as compared to the last 10 years, Prem Mehta feels that even in the next 3-5 years, rapid changes in the Indian market will redefine advertising, with new media driving the change. ''This kind of change needs to be managed by new-generation managers with the right perspective,'' says Prem. ''I am confident that the team IPG has put in place will lead the Indian operation to new highs,'' he adds.