Being able to retire on your terms is a luxury in this business, but Allen Bosworth, co-founder and president of EP+Co, is managing to do so after over 40 years.

“It is an opportunity for me to go do some things that I love,” Bosworth told ADWEEK, adding that he will be retiring from the industry but will be teaching at his alma mater, the University of North Carolina.

The IPG agency has revealed its leadership succession plan following Bosworth’s departure, naming Kat Shafer the new president of the agency, a role she will assume on Sept. 1. Shafer will take over leadership from Bosworth, who has been with the agency since he helped found it 36 years ago.

After serving for the last eight years as EP+Co’s president, Bosworth is set to retire at the end of 2024. Following the transition, Shafer will report directly to Alex Leikikh, IPG executive vice president of Interpublic Group.

“It’s time for Kat and the rest of the leadership team. We have an incredibly experienced leadership team. Kat and this team have been with us anywhere from 10 to 20 years. It’s a true opportunity for them to continue the path that they’ve been on,” said Bosworth.

An easy transition due to long-term employees

Shafer has been with the agency for nearly 20 years, serving most recently as chief client officer and chief growth officer. During her time at EP+Co, she has with the acquisition, growth and retention of numerous clients, including the Verizon account, which she led for nine years. Over the past two years, Shafer has helped EP+Co achieve 100% client retention and solid organic growth with clients including John Deere, Michelin, General Mills brands, Planet Oat, The UPS Store and others. 

As Shafer transitions into her new role, she looks to bring a higher profile to the agency while keeping on the same successful trajectory Bosworth helped guide.

“We often hear from our clients what a hidden gem we are. Our ultimate goal is we don’t want to be a hidden gem anymore,” Shafer told ADWEEK.

Shafer stated that the long tenure of its executive leadership team—14-and-a-half years with Bosworth’s tenure excluded—provides consistency to its clients. She will work with CCO John Cornette, chief strategy officer Chris Plating and others to work towards the agency’s mission, which is “creativity that builds belief,” while elevating the creative product and “remaining obsessive about growth.”

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