Interpublic Group of Cos., the ad-holding company which has struggled to deal with accounting problems in recent months, disclosed Friday that two former chief executives, David Bell and John J. Dooner Jr., would leave the company's board after next month's annual meeting. News of their departures comes just weeks after Interpublic restated financial results for the past several years, including the combined period that the two ran the company. Mr. Bell was chief executive from February 2003 until January of this year, when he became co-chairman. Mr. Dooner was his immediate predecessor, serving as chief executive from December 2000. Both remain on Interpublic's payroll: Mr. Dooner now runs McCann WorldGroup, Interpublic's biggest operation. He is expected to stay with McCann, says an agency spokeswoman. Mr. Bell is expected to stay at Interpublic for the foreseeable future, although his employment can be terminated any time after Jan. 18, 2006. Mr. Bell was not available for immediate comment. Their departures will reduce the size of Interpublic's board to eight, leaving Mr. Roth as the only inside director. "In keeping with best practices in corporate governance, we are now moving to a board made up solely of independent directors, other than the company's Chief Executive Officer," Interpublic said in a statement. Having two former CEOs on a board is not good corporate governance, said Sydney Finkelstein, a professor of strategy and leadership at Dartmouth College's Tuck School of Business. The situation creates "natural friction" between an old company chieftain who set up one agenda and the new one who has plans of his own, he added. Write to Brian Steinberg at brian.steinberg@wsj.com

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