- M&C Saatchi CEO Moray MacLennan to Retire
- Search for Successor to Begin
- Leadership Reorganization at London’s Leading Advertising Agency
The London-listed advertising agency group will declare its search for Moray MacLennan’s successor on Monday. MacLennan was a founding member of the company in 1995.
The veteran chief executive of M&C Saatchi, the leading advertising agency in London, will step down, signaling the latest phase of a leadership reorganization within the organization.
In the upcoming months, Moray MacLennan, who has worked for M&C since its founding in 1995, will retire.
M&C is expected to launch a replacement search on Monday morning to the London Stock Exchange.
The announcement will occur just weeks after Zillah Byng-Thorne, the former publisher of The Week, Future, joined M&C as chairman.
Mr. MacLennan is one of the most renowned and influential personalities in the British advertising industry.
He began his career at Saatchi & Saatchi in 1983, joining the eponymous brothers and two other senior executives 12 years later when they formed the rival firm.
He was the architect of the ill-fated Remain campaign during the Brexit referendum and oversaw several notable advertising campaigns, including Margaret Thatcher’s 1980s general election campaign.
Recently, he has attempted to steer M&C through a period of significant obstacles, including financial reporting issues and the departure of the company’s remaining founders.
In 2020, he assumed over as CEO.
An advertising source said Mr. MacLennan will in “high demand” from competitors and media after leaving the organisation.
M&C’s operations also include sports sponsorship brokerage and activation, digital and social media marketing, and talent management.
It warned last month of declining revenues in 2023 due to challenging trading conditions and a sluggish economy.
Under the leadership of Ms. Byng-Thorne, M&C is anticipated to conduct a comprehensive international search for a new chief executive.
Chris Sweetland, a former WPP Group finance executive, is expected to join M&C’s board as a representative of the company’s largest shareholder, Vin Murria and AdvancedAdvT, as part of a broader board reorganization announced earlier this year.
The latest phase of its governance overhaul follows a turbulent period for M&C, which was involved in a bidding war with Ms. Murria and another London-listed company, Next Fifteen Communications, last year.
M&C manages campaigns for a multitude of Fortune 500 companies, including Heineken and Barclays.
The organisation also works for the NHS and numerous Whitehall departments.
On Friday, M&C shares closed at 148 pence, giving it a market capitalization of approximately £180 million.
Brunswick, M&C Saatchi’s PR firm, didn’t answer calls or emails Sunday night.
