REG - M&C Saatchi PLC - Board Changes

M&C SaatchiAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260309:nRSI8377Va&default-theme=true

RNS Number : 8377V  M&C Saatchi PLC  09 March 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS
DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF
MAR.

 

9 March
2026

M&C SAATCHI PLC

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

 

Board Changes

 

The Company announces the following changes to its Board of Directors (the
"Board").

 

Chief Executive Officer

The Board announces that by mutual agreement Zaid Al-Qassab is stepping down
as Chief Executive Officer and as a Board Director from 31 March 2026. The
Board intends to initiate a comprehensive formal 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 is appointed, Dame Heather
Rabbatts, currently Non-Executive Chair, will assume the role of Executive
Chair on an interim basis with a focus on the delivery of the Company's growth
strategy, supporting the Company's wider senior leadership team and
demonstrating the significant embedded shareholder value in the Company. An
operating board will be in place, comprised of members of the Company's senior
leadership team and headed by Dame Heather, during this period.

 

Zaid has been instrumental in leading the Company through its transformation
and business integration, from over forty independent businesses to five
connected regions benefitting from end-to-end marketing services offerings.
Zaid also undertook the Company's first M&A transactions in seven years,
successfully integrating two acquired businesses as well as launching and
uniting the Company behind its business proposition, Cultural Power.

 

Board appointments

The Board remains focused on delivering shareholder value. Through the success
of our transformation programme and improvements in our operating model, we
remain confident in medium term growth across all profit indicators. However,
there is further work to do to maximise shareholder value. To support this,
the Company is pleased to announce the appointment to the Board of Vinodka
"Vin" Murria as both Non-Executive Director and Deputy Chair and Nicholas
Shott as an independent Non-Executive Director, effective immediately.

 

As a substantial and long-term shareholder and previous director of the
Company, Vin brings extensive experience in the media, digital and technology
sector and deep understanding of the Company. Vin is currently non-executive
director at Bunzl plc, the FTSE 100 international distribution and services
group, Chair of AdvancedAdvT Limited ("AdvT"), the international software
solutions provider, and was previously also a non-executive director of
Softcat plc, the FTSE 250 provider of technology solutions and services.

 

Nicholas has more than 30 years' experience in the financial services sector,
spending much of his career at Lazard where he held senior roles including
Vice Chairman of European Investment Banking, Head of UK Investment Banking,
and member of the London Management Board. Having begun his career in media,
he brings extensive finance expertise and has served in multiple
non‑executive and advisory positions across listed financial services
companies, government bodies, and media organisations. Nicholas is Chair of
Conduit Holdings, the reinsurance business, and previously served for nine
years as a non-executive director at Phoenix Group Holdings, the FTSE 100
savings and retirement business.

 

Dame Heather Rabbatts, Non-Executive Chair, commented:

"On behalf of the Board, I would like to thank Zaid for his contribution
during his time at M&C Saatchi. He leaves the Company with a strong and
more integrated operating model, creating Cultural Power for our clients by
combining world-leading creativity, global reach, and specialist capabilities.
We wish him all the best for the future.

"In my role as interim Executive Chair, I will be focused on driving our
strategy and shareholder value, and supporting our talented team to continue
to deliver best-in-class solutions for our clients through our diverse
portfolio of specialisms.

 

"I am delighted to welcome Vin and Nicholas to the Board. They both bring a
wealth and breadth of experience advising listed companies, and will reinforce
the Board's existing expertise and strategic insight."

 

Vin Murria, incoming Non-Executive Director and Deputy Chair, commented:

"As a long-term shareholder, I am looking forward to working with Heather and
the Board to support the delivery of the Company's strategy and to drive the
business forward. M&C Saatchi is a special business that has significant
exposure to high-growth sectors through its diverse portfolio of specialisms
with huge potential for value creation across all its constituent parts."

 

Nicholas Shott, incoming Non-Executive Director, commented:

"I am delighted to be joining the Board of M&C Saatchi, one of the most
respected names in the marketing services industry. I look forward to
contributing my experience to its continued long-term success and capitalising
on the significant opportunities available to the Company."

 

Rule 2.8 of the City Code on Takeovers and Mergers (the "Code")

As at 6 March 2026, Vin Murria held 14,437,452 ordinary shares in the Company
(11.8% of the Company's issued share capital), Vin Murria is also Executive
Chair and a substantial shareholder in AdvT. AdvT holds 12,000,000 ordinary
shares in the Company (9.8% of the Company's issued share capital).

 

In connection with Vin Murria's appointment to the Board, AdvT has confirmed
it does not intend to make an offer for M&C Saatchi.  Accordingly, except
with the consent of the Panel on Takeovers and Mergers, AdvT and any person
acting in concert with AdvT (including Vin Murria who is considered as a
person acting in concert with AdvT), is bound by the restrictions under Rule
2.8 of the Code.

 

Directorships - Disclosures required under Schedule 2 (g)

 

In accordance with schedule 2 (g) of the AIM Rules for Companies, Nicholas
Roland Shott (aged 74 years) holds or has held the following directorships in
the last five years:

 

 Current                       Past 5 Years
 28 Smith Street Limited       Lazard & Co. Limited
 Deverill Consultancy Limited  Lazard & Co. Services Limited
 Conduit Holdings Limited      Lazard & Co. Holdings Limited
                               Standard Life Plc

 

Nicholas Shott holds no ordinary shares within the Company.

 

In accordance with schedule 2 (g) of the AIM Rules for Companies, Vinodka
Murria (aged 63 years) holds or has held the following directorships in the
last five years:

 Commercial companies (Current)                  Commercial companies (Past 5 Years)
 Advanced ADVT Limited (UK)                      M&C Saatchi PLC
 Advanced ADVT Limited (British Virgin Islands)  Pythagoras Communications Holdings Limited
 ADV Holding Group Limited                       Softcat Plc (Australia)
 ADV Finance Holding Limited                     Softcat Plc (UK)
 ADV People Holding Limited
 Bunzl Plc

 Investment entities (Current)                   Investment entities (Past 5 years)
 XCD HR Limited                                  ADV Data Holding Limited
 Mac I (BVI) Limited (UK)                        Celadon Pharmaceuticals Limited
 Mac I (BVI) Limited (British Virgin Islands)    Pythagoras Communications Limited
 MAC1 Pty Ltd (Australia)                        SVB UK Ltd (formerly HSBC Innovation Bank Limited)
 Marwyn Acquisition Company Limited              Taina Technology Limited
 PS Foundation                                   Transform Topco Limited
 VM.AV Corporate Services Ltd.                   VMSB Investment Capital Group Ltd
 VMSB Upper Court (Property) Ltd                 VMSB Surrey Properties Ltd
                                                 VMSB Upper Court (Development) Ltd

 

Vinodka Murria personally holds 14,437,452 shares (11.8%) of the Company,
therefore representing a substantial shareholder. Vin Murria is also the
executive Chair and a substantial shareholder of AdvT which is interested in
12,000,000 shares (9.8%) of the Company.

There are no further disclosures to be made under Schedule 2 (g) of the AIM
Rules for Companies.

FURTHER INFORMATION

 M&C Saatchi                                           +44 (0)20-7543-4500
 Dame Heather Rabbatts, Non-Executive Chair
 Simon Fuller, Chief Financial Officer
 Thomas Fahey, Head of Investor Relations

 Headland Consultancy                                  +44 (0)20-3805-4822
 Rob Walker, Charlie Twigg, James Waters

 MCSaatchi@headlandconsultancy.com

 Panmure Liberum - Nominated adviser and Joint broker  +44 (0)20-3100-2000
 Edward Mansfield, Will King, Gaya Bhatt

 Deutsche Numis - Joint broker                         +44 (0)20-7260-1000
 Nick Westlake, Iqra Amin

 

About M&C Saatchi
M&C Saatchi is a creative solutions company with specialist expertise and
creativity in helping its clients grow by maximising the reach and potential
of their brands. It does this through its regional-first operating model with
five core specialisms - Advertising, Issues, Passions, Consulting and Media -
which it leverages in an integrated go-to-market approach. It has significant
global reach, with major hubs in the UK, Europe, Middle East, APAC and the
Americas and is supported by global shared services.  M&C Saatchi is
headquartered in London and listed on the FTSE AIM index of the London Stock
Exchange.

 

Inside Information

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 (as it forms part of domestic law by virtue of the European
Union (Withdrawal) Act 2018). On the publication of this announcement via a
Regulatory Information Service, this inside information is now considered to
be in the public domain. The person responsible for making this announcement
is Victoria Clarke.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAUPUWAWUPQPGR



            Copyright 2019 Regulatory News Service, all rights reserved