• by Joe Mandese  @mp_joemandese, November 18, 2009

In an indication of the role finance is playing in the restructuring of big media agency holding companies, Interpublic's Mediabrands division Tuesday announced that Tara Comonte has been promoted to the dual role of COO and CFO.

Comonte, who had been CFO, has been part of the core team reshaping Mediabrands products, services, and business models. The announcement coincided with her induction into the American Advertising Federation's "Hall of Achievement.

Among other things, Comonte created Mediabrands' Venture Fund, which provides financial support to fund venture-worthy ideas from any of the Interpublic unit's 6,500 employee's worldwide into business enterprises.