M+C Saatchi’s global CEO Zaid Al-Qassab will be stepping down on 31 March.
The agency group announced the change via an update to the London Stock Exchange, simultaneously announcing plans to buyback shares up to £4.5 million.
The M+C Saatchi board said it will initiate a comprehensive formal search to replace former Channel 4 leader Al-Qassab, who joined in February 2024.
In the meantime, Dame Heather Rabbatts, currently non-executive chair, will assume the CEO role.
M+C said Al-Qassab had 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.
Al-Qassab 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 announcement follows press speculation that began in Sky News in the UK that Al-Qassab would be calling it quits. When we spoke to M+C Saatchi earlier today, it declined to comment on the reports locally and directed us to its global team.
He also led the business to abandon the ampersand in its name in favour of its new “+”.
In December, M+C said in response to previous press reports about Al-Qassab’s departure that it would not comment on speculation and that succession planning is something the board keeps under review.
“On behalf of the Board, I would like to thank Zaid for his contribution during his time at M&C Saatchi. He leaves the Company with a strong and more integrated operating model, creating Cultural Power for our clients by combining world-leading creativity, global reach, and specialist capabilities. We wish him all the best for the future,” said Dame Rabbatts.
“In my role as interim Executive Chair, I will be focused on driving our strategy and shareholder value, and supporting our talented team to continue to deliver best-in-class solutions for our clients through our diverse portfolio of specialisms.”
In January, it issued a trading update to the London Stock Exchange saying it expected FL net revenue for FY 2025 to decline around -7 per cent (or around -2.5 per cent excluding Australia) with reported net revenue of £210 million and operating profit of £26 million.
“Through the implementation of our strategic regional growth teams, we saw improved pipeline conversion in the second half of FY 2025, translating into multi-specialism wins across various markets. These include Coca-Cola as part of their Premier League sponsorship amplification, two creative strategy and development roster framework wins with the UK Government, a win for a major consumer launch for a Super Bowl spot and increased scope of work for JP Morgan Chase and Ferrari. Whilst macroeconomic challenges persist, we are confident that the business will achieve profitable growth in 2026, underpinned by our long-term value drivers and core growth markets,” it said.
M+C also announced it had appointed Vinodka “Vin” Murria as both Non-Executive Director and Deputy Chair and Nicholas Shott as an independent Non-Executive Director, effective immediately.
M+C added that its share buyback scheme comes off the back of its strong balance sheet providing the opportunity to repurchase shares given the current market position.
Since Al-Qassab assumed control of M+C, its share price has dropped nearly a third. It’s down nearly 12 per cent year to date.
