WPP AUNZ has confirmed that Phil McDonald has resigned from his role as chief executive of Y&R Group after two years.

McDonald’s resignation is effective immediately, with WPP AUNZ expected to make an announcement about a new CEO soon.

During the transition period, Y&R offices in will continue to be led by their respective state managing directors.

WPP AUNZ CEO Mike Connaghan said: “Phil leaves the agency in good shape, and we thank him for his commitment and hard work since taking on the CEO role two years ago.

“He took the reins at a tough time for the business, but has played an important part in growing both its capabilities and solid client offering. We wish him well in his future endeavors.”

Commenting on his departure, McDonald said: “I have thoroughly enjoyed working with the wonderful people and clients of Y&R ANZ.

“In my time as regional CEO, we have reinvented our business across five cities, won awards all over the world, attracted some great new clients and some of the best talent in the industry.

“The agency is well set up and after 11 years at Y&R, it is the right time for me to move on to a completely new opportunity, which I will announce in the coming weeks.”