Mr Michael Bungey is stepping down as the chairman and chief
executive of Bates Worldwide to concentrate on running its Cordiant
group parent.
Mr Bungey, 60, will relinquish control during the next year to be
succeeded as head of the network by Mr Jean de Yturbe, the French-born
chairman of Bates Europe.
Mr De Yturbe will also lead the development of CCG United, the group's
new initiative to encourage more cross-referral of business between its
subsidiary companies.
The switch comes amid lingering reports that Cordiant, which last month
reported profits up 60 per cent to £17.8 million, will be acquired
by a rival communications group.
Cordiant recently acquired Healthworld, one of the world's largest
healthcare groups, and the US marketing operation Lighthouse.
The deals have fuelled speculation that the group is being fattened up
for a sale, although this is denied by Mr Bungey.
He said he was giving all his attention to Cordiant because of the
group's pace of growth.
"We have now secured our position as one of the top 10 communications
companies in the world," he said.
"The management task is infinitely more complex. So we need to evolve a
new structure."
Mr Bill Whitehead, the chief executive of Bates North America, will take
the new position of president and chief operating officer.
He will take charge of Bates' operations in North America, Europe,
Asia-Pacific and Latin America.
A chief executive for Bates North America will be appointed shortly.
