Sean F. Orr, is resigning as CFO of the Interpublic Group, parent company of advertising agencies Draft Worldwide, FCB Direct and others at the end of August. He will be replaced by COO Christopher J. Coughlin.
Orr joined the agency in June 1999 from PepsiCo, Inc., where he had been senior vice president and controller. From 1994 to 1997, he served as executive vice president and chief financial officer of the Frito-Lay Co.
According to news reports, stock analysts had expected this move as the New York-based firm has had to deal with a Securities and Exchange Commission probe into a six-year earnings restatement.
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