Click for Link:
http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20091216:nRSP1847Ea
RNS Number : 1847E
M&C Saatchi PLC
16 December 2009
 
 
16th December 2009
M&C SAATCHI ("M&C Saatchi" or the "Company")
Directorate Change
M&C Saatchi PLC announces that Jerry Wales, Group Finance Director, will be stepping down as a director and leaving the
Company following the announcement in March 2010 of the preliminary results in respect of the year ended 31 December 2009.
It is intended that Jamie Hewitt, currently UK Finance Director, will be his replacement and join the Board of M&C Saatchi
with effect from 31 March 2010. Jerry and Jamie will work together closely over the coming months to ensure a smooth
transition.
Lord Saatchi, M&C Saatchi Executive Director, said:
"Jerry has made an enormous contribution to M&C Saatchi over the 15 years he has been with the Group. His commitment and
endeavor have helped shape the Company into its position today as the world's largest independent advertising network. I
would like to express my own thanks, along with those of the rest of the Board, for Jerry's outstanding commitment and we
wish him well for the future."
David Kershaw, M&C Saatchi Chief Executive, said:
"We have all greatly enjoyed working with Jerry through his tenure at M&C Saatchi. We have always relied on his wise
counsel - not least over the past 18 months, which have seriously challenged the whole of the sector. His sterling work is
a large part of why we are ready to face next year in good financial health. In Jamie Hewitt, we have an extremely capable
replacement and are confident of a smooth transition."
Jerry Wales, M&C Saatchi Finance Director, said:    
"The decision to leave M&C Saatchi was not an easy one. I have loved the 15 years I have spent with the business - working
with people who I regard as leaders in the advertising industry. However, I have decided that now is the right time to hand
over to Jamie, with whom I have worked closely for six years. I wish him and everyone else at M&C Saatchi all the best for
the future."
The trading outlook for the full year is in line with management expectations, with headline profit before tax1 for the
year to 31 December 2009 at not less than P10.0m.
In accordance with Schedule 2(g) of the AIM Rules, the following information in relation to the appointment of Jamie Hewitt
is disclosed: 
 
Full name: James Neil Terry Hewitt. 
Age: 50. 
 
Jamie currently holds the following directorships: 
 
 Current Directorships                       
 Play London Limited                         
 Influence Communications Limited            
 Lida Limited                                
 M&C Saatchi Export Limited                  
 M&C Saatchi Sport & Entertainment Limited   
 Talk PR Limited                             
 Nabs                                        
 Talk PR Audience Limited                    
 M&C Saatchi (Middle East & Africa) Limited  
 M&C Saatchi Brand Licensing Limited         
 
 
He has not held any other directorships/partnerships over the five years preceding this announcement other than as
disclosed above. Save as set out above, there is no further information to be disclosed in respect of Schedule 2(g) of the
AIM Rules.
-ENDS-
For further information, please contact:
M&C Saatchi 
David Kershaw, Chief Executive                020 7543 4500  
Tulchan Communications                            020 7353 4200  
Susanna Voyle/Tom Rayner  
Numis Securities Ltd                                    020 7260 1000  
Lee Aston, NOMAD  
Charles Farquhar, Corporate Broking 
 
1# Headline profit before tax is stated before accounting for the following items: 
 
* 
Amortisation and impairment of acquired intangibles (including goodwill); 
 
* Fair value adjustment to minority put option liabilities; and 
 
* Notional interest on contingent consideration. 
 
This information is provided by RNS
The company news service from the London Stock Exchange 
 

Back to RNS

Top of page