• by David Goetzl  @dgoetzl, March 30, 2006

Interpublic's CEO Michael Roth continued to express optimism in troubled Lowe Worldwide yesterday, while acknowledging that a turnaround is needed fast--or else.

Roth didn't say what "or else" is, although he referenced repeated suggestions that the worldwide network be shuttered.

Nonetheless, he said Lowe's future lies in branding itself as a creative hotbed. "It has a tremendous creative reputation," he said at a Bank of America investor conference--just two days after IPG held "Investor Day," where the agency's future was a hot topic.

"If we didn't have Lowe," he added, "we'd have to get one."

Roth's optimism for Lowe was based, in part, on Ed Morris' recent decision to remain as a creative guru in the London office, and recent new business wins from EarthLink and Unilever.

Going forward, the agency will add another top executive in its New York office, and will be encouraged to work more closely with other IPG sister companies.

"Historically, Lowe has not been very receptive to using other IPG assets," said IPG CFO Frank Mergenthaler, who joined Roth in the question-and-answer session.

The Interpublic Group of Companies has struggled financially of late, prompting the holding company to hold the "Investor Day" on Monday.

While Lowe has contributed to the problems, Roth said the agency receives outsized focus because of an intense focus by the British press on its fate.