Credit: Ben Schumin
Zaid Al-Qassab is stepping down as CEO of M&C Saatchi, less than two years after taking the role. The departure, widely expected, has been described as being by “mutual agreement.”
Heather Rabbatts, currently chair of the global advertising group, will assume the position of executive chair until a new chief executive is appointed.
The board of directors acknowledged Al-Qassab’s crucial role in leading the company’s transformation, consolidating over 40 independent businesses into five interconnected regions. “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 board stated.
In her remarks, Rabbatts expressed gratitude for Al-Qassab’s contributions. “He leaves the company with a stronger and more integrated operating model, creating Cultural Power for our clients by combining world-leading creativity, global reach, and specialist capabilities,” she noted. “We wish him all the best for the future.”
As interim executive chair, Rabbatts outlined her focus on driving the company’s strategy, shareholder value, and supporting the talented team to continue delivering exemplary solutions through their diverse portfolio.
M&C Saatchi has been navigating significant changes in recent years, with leadership turnover and a renewed focus on financial discipline following governance issues encountered earlier in the decade. Al-Qassab, previously the chief marketing officer at Channel 4, was appointed in 2024 as part of efforts to stabilise the business and restore investor confidence, stepping in after co-founder Moray MacLennan’s departure in September 2024.
The company is bracing for disappointing financial results for the full year 2025, with like-for-like revenue predicted to decline by about 7%, or approximately 2.5% when excluding Australia, identified as a “poor performer” within the group.
M&C Saatchi has also announced key appointments, including major shareholder Vinodka “Vin” Murria as a director and deputy chair, and Nicholas Shott as an independent director, effective immediately. Murria is a non-executive director at Bunzl plc and chair of AdvancedAdvT Limited, while Shott brings over 30 years of experience in financial services, primarily from Lazard where he held senior positions.
“As a long-term shareholder, I am looking forward to working with Heather and the Board to support the delivery of the Company’s strategy and to drive the business forward,” said Murria, who holds an 11.8% stake in M&C Saatchi.
Despite the challenges, Murria highlighted M&C Saatchi’s potential, stating, “It is a special business with significant exposure to high-growth sectors through its diverse portfolio of specialisms.” However, AdvT, which holds 9.8% of M&C’s issued share capital, has confirmed it does not intend to make an offer for M&C Saatchi.
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