M&C Saatchi global CEO announces retirement
M&C Saatchi Group’s global chief executive officer Moray MacLennan has announced he will retire from the role, stepping down as of 30 September.
MacLennan started his career at Saatchi & Saatchi in 1983, moving across to the break-away company M&C Saatchi in 1995. He has been CEO of the advertising agency since 2010.
The M&C Saatchi board will “initiate a comprehensive formal executive search process” for a new chief, which it expects to complete within the next 12 months.
Until then, Zillah Byng-Thorne, who recently came on board as non-executive chair, will act as executive chair of the company.
“On behalf of the board I would like to thank Moray for his contribution to M&C Saatchi, from the founding of the company in 1995 through to his current role as chief executive officer,” said Byng-Thorne.
“His leadership has seen the company not just stabilise but deliver record profits and establish strong foundations for future growth.”
MacLennan said of his time at the company: “It has been a rare privilege to work for three decades with people I respect and like, creating work that has had an extraordinary impact on the world.
“M&C Saatchi is well set for the future and now is the right time to make way for fresh energy and ideas. Thanks to all past and present, and to those in the future who I know will keep the M&C Saatchi flame burning bright.”
Justin Graham, CEO of M&C Saatchi Group ANZ, and global head of advertising network (above), added: “I have enjoyed my time working with Moray and have learnt much about the business from him.
“He has provided excellent leadership to the group since assuming the CEO role in 2010. I personally and professionally wish him the very best.
“We have an excellent leadership team in place, and with the appointment of Zillah Byng-Thorne as non-executive chair and interim Executive Chair, I have no doubt that the business will continue to thrive as we transition to a new global CEO. The changes have no impact on the Australian and New Zealand operations of M&C Saatchi Group.”
