REG - M&C Saatchi PLC - M&C Saatchi - Board Changes

M&C SaatchiAnnouncement

24/07/2023 07:00

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RNS Number : 8780G  M&C Saatchi PLC  24 July 2023

24 July 2023

M&C Saatchi plc

("M&C Saatchi" or the "Company")

Board Changes

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 Mr 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."

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014.

 For further information please call:

 M&C Saatchi plc                            +44 (0)20-7543-4500
 Moray MacLennan, Chief Executive Officer
 Numis Securities                          +44 (0)20-7260-1000
 Nick Westlake, Iqra Amin

 Liberum                                   +44 (0)20-3100-2000
 Max Jones, Benjamin Cryer, Will King
 Brunswick                                 +44 (0)207-404-5959
 Andrew Porter, Kate Pope

 

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