Board Changes at M&C Saatchi as Moray Maclennan Announces Retirement
The Board of M&C Saatchi announces that Moray MacLennan has informed the company of his intention to retire from his role of chief executive officer of the company. The Company and Moray MacLennan have agreed that this change will take effect as of 30 September 2023.
The Board will initiate a comprehensive formal executive search process to identify a new chief executive officer and will update the market as and when appropriate.
Until such time as a new chief executive officer joins the Company, which is expected to be within the next 12 months, Zillah Byng-Thorne, currently non-executive chair, will act as executive chair of the company from 1 September 2023.
Commenting on the announcement, Zillah Byng-Thorne, chair, 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.”
Moray MacLennan, chief executive officer, 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, group CEO, M&C Saatchi Group AUNZ, global head of advertising network 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 2021. 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."
