Interpublic Group's Momentum names new CEO as Chris Weil steps down

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• Interpublic Group (NYSE:IPG) announced Monday CEO change for for Momentum Worldwide, its global experiential marketing company.
• Momentum has named its President of North America Donnalyn Smith as its new Global CEO since Chris Weil, who has led the company for the last twenty years, has decided to pursue a new entrepreneurial venture.
• The transition is effective immediately.
• However, Weil will reportedly remain as Chairman until year-end and will then serve in a consulting capacity to Interpublic through 2023.
• "Donnalyn Smith joined Momentum in 1995. Since then, Smith has been integral to the company’s success, supporting several of its largest clients across a range of brand experience verticals," the company said.
• Seeking Alpha contributor calls Interpublic Group "Undervalued" but does not see enough return potential, with rating assigned to Hold.