New York: Lowe Worldwide today announced the acceptance of Prem Mehta's decision to opt for early retirement.

''In January this year, Prem expressed a desire to retire as chairman and managing director, which, following a Board meeting, Lowe Worldwide has now respectfully accepted,'' said Steve Gatfield, CEO Lowe Worldwide.

''We are pleased to recognise Prem's valuable role in steering the Indian company to its current stature, both in India and internationally. The board of Lintas, Lowe Worldwide and the InterPublic Group wish Prem the very best as he leaves the organisation that he has been a part of for 28 years,'' he added.

Steve Gatfield assumes chairmanship of the Lintas India Board.

Under Prem Mehta's leadership, Lintas India has charted impressive growth in revenue, profits and net worth, while delivering an exceptionally effective product to some of the most discriminating advertisers in the country. His vision led the company's diversification programme into key areas of marketing communications. Lintas India is now a wholly owned subsidiary of the Interpublic group (IPG).

A statement from Lintas said that as compared to the last 10 years, Prem Mehta feels that even in the next 3-5 years, rapid changes in the Indian market will redefine advertising, with new media driving the change. ''This kind of change needs to be managed by new-generation managers with the right perspective,'' says Prem. ''I am confident that the team IPG has put in place will lead the Indian operation to new highs,'' he adds.

Over a career spanning nearly four decades, Prem will be remembered for bringing a certain dignity and respectability not just to Lintas India, but even to the Indian advertising industry, as he played a key role at the Advertising Agencies Association of India (AAAI) in matters such as agency remuneration and industry relations.

Prem has always been committed to the role of building brands. ''From being treated as frivolous, advertising became a vital marketing tool which used extensive research, planning and strategy to build sustainable brands,'' reminisces Prem. His most notable memories are of campaigns done for Liril, Cherry Blossom, Lifebuoy, VIP and Britannia. More recent campaigns from the Lowe stable that strike a chord with Prem are Greenply, Maruti, LG, Bajaj and ICICI.

Mehta was instrumental in setting up the Lintas College of Communication in the early 80s, which ran training programmes for all disciplines within the company. Northpoint, the training facility owned by the Lintas Employee Welfare Trust is a logical conclusion to Prem's keenness to provide the best in-house training to Lintas staff. This addresses one of the key issues facing the industry at large – paucity of talent. When asked what he plans to do, now that he has chosen to retire, Prem replied smilingly, ''Well, I have not taken a break in 10 years, so that would be the first thing on my agenda!''

During Prem Mehta's tenure, Lintas India has evolved into one of the largest communications groups in the country, ten times larger than it was when he took over.

In the last ten years, Lintas India was adjudged the most outstanding agency of they year by the worldwide company. It was chosen as one of the 10 centres of innovation and excellence.

''The staff of Lintas India, The Lintas Board, the management of Lowe Worldwide and IPG thanks Prem Mehta for his valuable contribution, and wish him the very best in his future endeavors,'' said Steve Gatfield, CEO Lowe Worldwide.