Exhibit 99.1
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FOR IMMEDIATE RELEASE
Interpublic Group IssuesCOVID-19 Update
New York, NY – March 26, 2020 –Interpublic Group (NYSE: IPG) said today that, in light of significant macroeconomic uncertainty resulting from the severity of theCOVID-19 crisis, and the unknown magnitude and duration of its impact, it is appropriate to withdraw the company’s previously issued financial performance targets for full-year 2020.
“The impact ofCOVID-19 has continued in recent weeks to grow around the world in human tragedy and macroeconomic cost,” said Michael Roth, Chairman and CEO of IPG. “We remain focused on protecting the health and safety of our employees around the world, serving our clients, and supporting our communities.”
“Our strategic strengths continue through this challenging period,” Mr. Roth continued, “notably ourbest-in-class talent, client-centric culture, differentiatedgo-to-market strategy, industry-leading data management capabilities, and deep relevance of our offerings. Nonetheless, in the current environment, visibility into marketing and media spend is extremely challenging. Our company’s balance sheet and liquidity are strong, and consistent with past practices we will look for opportunities to further enhance our financial condition. Our company has a long track record of navigating successfully through uncertain economic periods due to the strength of our talent and operating disciplines that are in full force, servicing our clients and rigorously managing our flexible cost base. We have multiple cost levers to align expenses with changes in revenue and our operators are executing as appropriate on both the revenue and expense sides.”
Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200