In a largely anticipated move, Lowe Worldwide has announced that Prem Mehta, chairman and MD, Lintas India Pvt Ltd has resigned. Speaking on conference call, Steve Gatfield, CEO, Lowe Worldwide said, "When Interpublic were in discussion with the Lintas Trustees and Prem with regard to the purchase of remaining equity in the group, Prem was very candid about his desire to not stay a long time beyond the closure of the deal. We felt that after the deal had been consummated, and the organization had been reconfigured with new management, it was a natural order of things."
Gatfield said that the only change the development would entail would be of him taking over the chairmanship of the Lintas board. Gatfield denied that the move was a fallout of last year's controversial payout issue.