M&C Saatchi plc announced 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.
the Company announced 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.
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 directorships include 28 Smith Street Limited, Deverill Consultancy Limited, Conduit Holdings Limited, and Standard Life Plc. His past directorships over the last five years include Lazard & Co. Limited, Lazard & Co.
Services Limited, and Lazard & Co. Holdings Limited. 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: Current directorships in commercial companies include Advanced ADVT Limited (UK), Advanced ADVT Limited (British Virgin Islands), ADV Holding Group Limited, ADV Finance Holding Limited, ADV People Holding Limited, and Bunzl Plc. Her past directorships in commercial companies over the last five years include M&C Saatchi PLC, Pythagoras Communications Holdings Limited, Softcat Plc (Australia), and Softcat Plc (UK). In the investment entities category, Vinodka Murria's current directorships include XCD HR Limited, Mac I (BVI) Limited (UK), Mac I (BVI) Limited (British Virgin Islands), MAC1 Pty Ltd. (Australia), Marwyn Acquisition Company Limited, PS Foundation, VM.AV Corporate Services Ltd., VMSB Upper Court (Property) Ltd, and VMSB Upper Court (Development) Ltd. Her past directorships in investment entities over the last five years include ADV Data Holding Limited, Celadon Pharmaceuticals Limited, Pythagoras Communications Limited, SVB UK Ltd. (formerly HSBC Innovation Bank Limited), Taina Technology Limited, Transform Topco Limited, and VMSB Investment Capital Group Ltd.
