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Baxter will serve as chair of Initiative before taking up a new leadership role at IPG focused on "transforming and elevating" other areas of the group's portfolio.
Exclusive Campaign India survey reveals that 71% of industry workers say their company has taken no steps to reduce stress, while 69% report no access to mental health services.
The company's move follows protests against the content of the video series Tandav, which drew complaints against its makers and cast in Madhya Pradesh and Maharashtra in January.