Having been at Saatchi agencies for more than 35 years, MacLennan has waited a long time for the top job. Now, as CEO of M&C Saatchi, he faces the huge challenge of re-establishing a business that was already marred by an accounting scandal when the global pandemic blindsided the industry.
It was a tale of turbulence for M&C Saatchi in 2020, of plunging declines and rapid recoveries, that meant the agency network spent most of its time planning for normalcy rather than developing new products.
The ad agency group is still trading far below the level it was at when accountancy scandal was revealed in 2019.
M&C Saatchi PLC is set to promote long-term lieutenant Moray MacLennan to chief executive, as the company’s last remaining founders bow out.
Singapore and Australia among office locations to see changes, as agency reports better than expected revenue decline of 13% in first half of 2020.
The group admitted another £2.4m in accounting 'adjustments' for past misstatements.
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