“In 2013, Karen was one of a very small number of women CEOs in our industry,” IPG CEO Philippe Krakowsky said in a statement. “Today, over 60% of IPG’s revenue is overseen by women CEOs. Karen is a true trailblazer who showed all of us the path forward, for which we are all grateful. We celebrate her remarkable career at Hill Holliday and her decades of service.”
Kaplan called the situation “bittersweet” in the statement, but said now was the right time to hand over the reins to Wallrap, who has been with Hill Holliday for 13 years. He first joined as chief growth officer before being named president.
“When my predecessor, Mike Sheehan, became CEO he said he’d serve for 10 years,” Kaplan said in the statement. “He believed that was long enough to accomplish everything he wanted to do and prepare the agency for a future under new leadership, and I have to agree with him.”
“These are big shoes to fill and I don’t take that lightly,” Wallrapp said. “Karen has been a great mentor, boss, friend and confidant and, as we look ahead, I believe there’s no better tribute to her than to live by her example.”
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