Maurice Saatchi and three founding directors quit M&C Saatchi
Lord Maurice Saatchi has resigned from M&C Saatchi along with directors Lord Michael Dobbs, Sir Michael Peat and Lorna Tilbian. Maurice Saatchi had founded the agency with his brother Charles in 1995.
According to media reports, his resignation comes after a tough year for the agency. One of the biggest independent agencies in the world, they have big name clients under their belt such as Lida, MCD Partners and The Source. The client NatWest which contributed a significant amount to their billings had recently moved its account to the agency, The&Partnership.
Jeremy Sinclair, Chairman, M&C Saatchi in a statement said, “We have accepted the decision of these directors to resign. We are determined to restore the operational performance and profitability of the business and are already implementing all of the recommendations set out in the PwC report we announced last week.”