M&C Saatchi Group’s Moray MacLennan will retire from his position as global chief executive officer as of 30 September.
The board of directors will initiate a comprehensive executive search process to identify a new chief executive within the next 12 months.
MacLennan began his career at Saatchi & Saatchi in 1983, moving across to M&C Saatchi in 1995. He stepped up as CEO of the advertising agency, a role he has held since 2010.
MacLennan spoke fondly of his time at the company and said: “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 the advertising network, said: “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.”
In the meantime, Zillah Byng-Thorne – who recently joined the board as non-executive chair – will serve as executive chair of the company.
Byng-Thorne said: “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.
“His leadership has seen the company not just stabilise but deliver record profits and establish strong foundations for future growth.”
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Top image: Justin Graham and Moray MacLennan