Sello Rasethaba leaves Saatchi & Saatchi

Sello Rasethaba announced his departure from Saatchi & Saatchi after 10 years as chairman of the board yesterday, Wednesday, 17 November 2010. He stated that, having completed a bold and aggressive transformation agenda, it is time for him to pursue other opportunities on behalf of the empowerment company, Xpanse Investments (formerly "Orlyfunt") and let someone else take the reins.

"During my tenure, we worked to transform the company and stimulate creativity to put more power in the hands of our clients, giving them greater choices that gave them a competitive edge. Evidence of our success can be seen in our clients such as Procter & Gamble. My only significant regret is that I will no longer have the pleasure and privilege of working shoulder to shoulder with the most talented and dedicated shareholders and colleagues that I have known.

"Ten years ago, Saatchi & Saatchi Worldwide CEO, [Kevin Roberts] observed that brands were suffocating under the weight of their own volume. Everything was a brand. Parity was rampant. Roberts came up with the concept of 'lovemarks' to assist clients to 'break out of the pack'. He argued, "Emotion leads to action...then shoot for love, the deepest of all emotions." Roberts contended that if you ask 100 CEOs if they want their brands to be liked or loved, you get a unanimous response.

"The seeds of the group's creative work have taken firm root amongst its clients who have ultimately recognised that 'Brands are owned by management, marketers and stockholders. The people who love them own lovemarks. Brands deliver performance, trust and reputation. Lovemarks create mystery, sensuality and intimacy. Brands are built on respect. Lovemarks are created out of respect and love."

"I look forward to spending more time in the maritime transport and logistics industry and particularly our interests in the Mediterranean Shipping Company," he concludes .