Feb 5 (Reuters) - Advertising company Interpublic Group of Cos Inc said it appointed three independent directors and that two current directors would retire, increasing the size of its board to 10.
Deborah Ellinger, Henry Miller, and Jonathan Miller will join the board, while Jill Considine and Richard Goldstein will step down with effect from March 1, Interpublic said.
Interpublic also said it had reached a standstill agreement with activist investor Elliott Management, one of it’s largest shareholders, and that Elliott had agreed to vote in favor of all the board’s nominees at the company’s annual meeting.
Elliott, which holds a 6.9 percent stake in Interpublic, had said last year that it wanted to “engage in a constructive dialogue” with the company’s board of directors to maximize shareholder value. (Reporting By Arathy S Nair in Bengaluru; Editing by Simon Jennings)