Coughlin, 51, claimed he is leaving to "spend more time with his family" but his departure has fuelled uncertainty about the company, which is also embroiled in a federal investigation regarding alleged accountancy irregularities.
Interpublic has acted swiftly to replace Coughlin, who had been at Interpublic for just one year. Robert Thompson, the senior-vice president, finance, has been drafted in as his replacement. Thompson, also 51, has been promoted to executive vice-president and chief financial officer and will report to IPG's president and chief executive, David Bell.
IPG also announced that Bell is relinquishing his role as chairman to Michael Roth, the chairman and chief executive of the financial services company the Mony Group. The Mony Group is in the process of being acquired by Axa. Roth has been an IPG board member since 2002 and will become the chairman in mid-July.
Bell commented: "Michael is a terrific operator and a great financial executive. He has worked in the professional services sector and in a diversified holding company environment for many years."
Coughlin added: "I have enjoyed being part of the first stage of building a new IPG. We have succeeded in stabilising the company, strengthening its financial condition and putting into place the foundation for future growth. However, as I considered my long-term future, I concluded that there are other priorities I would like to honour, such as spending more time with my family."
He will leave IPG at the end of the year.
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