Grey Worldwide withdraws from lottery pitch

Grey Worldwide SA has withdrawn from the National Lottery pitch shortlist due to corporate governance, as well as deadlines on three other pitches - Absa, Sasol and Cadbury. "Our chairman also chairs the Gidani consortium, and we feel it would be a breach of corporate governance and not in keeping with our reputation for integrity and transparency to continue on the pitch," said CEO Ann Nurock in a press statement released today, Thursday, 30 November 2006.