Interpublic parts with McCanns finance chief D'Angelo

NEW YORK - Troubled McCann-Erickson WorldGroup has lost its chief financial officer Art D'Angelo, who has left the agency after just a year in the job.

D'Angelo joined McCanns last November from Cordiant Communications. He was parachuted in to replace Sal LaGreca, who resigned at the height of the Interpublic accounting scandal, which saw it overstate its earnings by $181.3m (£108.45m) over five years.

D'Angelo is being replaced by Ramesh Rajan, senior vice-president and director of financial operations at Interpublic Group.

It is unclear why D'Angelo has left and Interpublic could not be reached at the time of writing for comment. He will remain at the agency until the end of the year.

Rajan will report to Interpublic chief operating officer Chris Coughlin and WorldGroup chairman and CEO John Dooner, according to US reports.

His departure underscores a rollercoaster 12 months for Interpublic, during which it was investigated by the Securities & Exchange Commission and saw its share price plummet.

The accounting scandal centred on the company's McCann-Erickson offices in Europe, where revenue for single clients was booked by more than one office.

The scandal cost LaGreca his job and saw Dooner demoted from chief executive of the holding company to McCanns chief.

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