Around half a dozen shareholders interrupted chairman and chief executive David Bell at the event in New York.
It follows a run of bad news for Interpublic, which saw Lowe lose its flagship global HSBC account to WPP.
One shareholder said a chart tracking the share price, "only looks good if you turn it upside down", according to a report in the New York Times.
As reported on Brand Republic earlier this month Interpublic, which owns McCann Erickson, Lowe and Initiative, recorded first quarter losses of $16.9m compared to $8.6m last year.
The losses followed revelations that the group had paid executives more than $41.4m in bonuses. At the annual meeting Bell defended the bonuses, which included a $1m payout for himself, saying they were paid for 2003 performance to around 4,000 of the group's 44,000 workers.
In spite of the vociferous comments from the small group all ten directors, including Bell were successfully re-elected to the Interpublic board.
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