Mike Tunnicliffe, the global client and network development director at Initiative, and Holly Stevens, its executive vice-president and director of worldwide accounts, will be leaving the network as part of a cost-cutting exercise.
Alec Gerster, the worldwide chief executive of Initiative, has made the cutbacks because the remit of Tunnicliffe and Stevens was being replicated by new regional teams in Europe, North America, Latin America, and Asia.
Sources close to Initiative said Gerster was under pressure from the IPG chief executive, Michael Roth, to deliver significant cost savings.
However, Janet Fitzpatrick, the former vice-president of global marketing at Motorola, who was hired last year as Initiative's chief strategic officer, remains with the network.
The changes follow the announcement last October that IPG was disbanding its IPG Media holding unit and aligning Initiative with its sister creative network, Draft FCB.
Gerster said: "We're trying to ensure we resource our business in the appropriate ways, with technology and channel planning receiving more support at the centre."