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M&C Saatchi co-founder resigns

11 Dec 2019

NEWSWATCH: Lord Maurice Saatchi has resigned from M&C Saatchi, amid a year of profit warnings, lost clients and a "cock-up in the accounts department" as reported in The Drum.

Image source: Facebook

Lord Michael Dobbs, Sir Michael Peat and Lorna Tilbian all quit the company’s Board alongside Saatchi on Tuesday, 10 December.

Chairman Jeremy Sinclair wrote in a statement to their investors:

We have accepted the decision of these directors to resign. We are determined to restore the operational performance and profitability of the business and are already implementing all of the recommendations set out in the PwC report we announced last week. We had started a process to reconstruct our board with new independent directors. This new board will have a mandate to conduct a full review of all aspects of our governance.

For more:

Maurice Saatchi quits advertising firm he co-founded - BBC News