30th Mar 2023 15:49
M&C Saatchi PLC - London-based advertising agency - Hires Zillah Byng-Thorne as board chair, replacing Gareth Davis at the company's annual general meeting in June. Byng-Thorne is the long-serving chief executive officer of magazine publisher Future PLC, but she is leaving that post on Friday. She also is set to be chair of website reviews platform Trustpilot Group PLC, starting on Monday.
Byng-Thorne will join the Saatchi board as an independent non-executive director on June 15. M&C Saatchi doesn't say when it will hold its AGM, but last year it was held on June 30. Also at the AGM, Senior Independent Non-Executive Director Lisa Gordon will step down from the board. Chris Sweetland will join the board on June 15 as the representative of AdvancedAdvT Ltd and Vin Murria, who together hold a 22% stake in Saatchi. Murria, who previous sat on the Saatchi board herself, is the chair of London-listed takeover vehicle AdvanceAdvT, which last year failed in an attempt to buy Saatchi. A rival takeover bid by London-listed marketing firm Next Fifteen Communications Group PLC also failed.
"I am delighted that we have attracted someone of Zillah's calibre to chair the board," Gordon says. "She has a tremendous track record in business and brings great digital and transformation expertise at an important point in M&C Saatchi's growth journey."
Current stock price: 192.98 pence, up 1.6% on Thursday in London
12-month change: up 16%
By Tom Waite, Alliance News editor
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