M&C Saatchi Group has announced that Jeff Krug, the chief financial officer (CFO), director and company secretary, will be stepping down from his position after 15 years of dedicated service to pursue new opportunities.
Krug is currently exploring opportunities across a number of boards.
During his tenure with the global communications agency, Krug has played a pivotal role in the company’s growth and success. As CFO, he provided strategic financial leadership, driving financial performance and overseeing various critical functions. Krug was instrumental in a number of key acquisitions, most notably Bohemia in 2017.
Krug also drove the expansion of the Group’s capabilities, including setting up Yes Agency in partnership with Optus, Greenhouse with the Woolworths Group and M&C Saatchi Aotearoa with Countdown as the foundation client.
Justin Graham, CEO of M&C Saatchi Group AUNZ, said: “Jeff has been an integral part of our leadership team and has made invaluable contributions to the M&C Saatchi Group.”
“His strategic financial acumen and unwavering commitment have played a significant role in the company’s growth and success. His well known passion and expertise in Karate has also come in handy over the years as well…”
Krug has also previously served as the chairman of the Financial Directors Circle of the Advertising Council of Australia (then called The Communications Council).
Beyond Australia and NZ, Krug’s global responsibilities include financial oversight of both Africa and Asia. With M&C Saatchi in South Africa now a leading agency with over 300 employees. Under Krug’s financial stewardship, M&C Saatchi Group successfully navigated numerous industry challenges and achieved significant milestones, expanding its global footprint and strengthening its position as a leader in the communications industry.
Krug said of his departure: “I am incredibly grateful for the opportunity afforded to me by founder Tom Dery and more recently Justin, to have been part of the M&C Saatchi Group family for the past 15 years.
“It has been a remarkable journey, and I am immensely proud of what we have accomplished together from both a growth and cultural perspective. I am confident that the company is well-positioned for continued success, and I look forward to seeing it thrive in the future.”
Graham added: “We thank Jeff for his dedication and wish him the very best in his future endeavors.”
Krug will remain in the business for the remainder of 2023.
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Top image: Jeff Krug