M&C Saatchi announces that Simon Fuller will become a member of the board and the company’s Chief Financial Officer (“CFO”) on July 1, 2024, as part of a managed succession process. Chief Financial Officer Bruce Marson will become Deputy Chief Financial Officer upon stepping down from the Board on June 30, 2024.
Having held multiple executive and senior management positions in a variety of UK-listed companies, Simon has extensive experience as a CFO. He was CFO of McColl’s Retail Group plc and Reach plc, among other companies. Fuller joins M&C Saatchi with a wealth of experience, having held CFO positions at Reach Plc and McColl’s Retail Group in the past. Additionally, he has held senior financial positions at COLT Telecom Plc, BT Group, and Tesco Plc.
The advertising industry is facing reduced marketing budgets from tech clients and slower new business growth as a result of cautious customer spending in an unpredictable economic environment. Fuller’s appointment comes at a difficult time for the industry. The Board expresses gratitude to Bruce Marson for his pivotal contribution to the metamorphosis of M&C Saatchi since his October 2021 hire and his promotion to CFO in March 2023.
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Zillah Byng-Thorne, Non-Executive Chair, commented,
“Simon joins us with a distinguished career of over 20 years of listed company experience and deep operational and strategic expertise. His wide experience in corporate governance, business transformation and investment strategy will help drive M&C Saatchi forward. I thank Bruce for his contribution during his tenure as Chief Financial Officer. His leadership has been pivotal as we navigated our significant transformation over the past 18 months, and we are delighted that we will retain his expertise in the group.”
Zaid Al-Qassab, Chief Executive Officer, said,
“I am pleased to welcome Simon, whose skills will be highly valuable in the new phase we have entered, as we drive M&C Saatchi to become the leading creative solutions partner for our clients, combining deep regional expertise with broad global reach. Building on the platform created under the leadership of Zillah and Bruce, whose talents I am pleased we will retain, I believe we have the right team to realise our potential in creating value for all stakeholders.”
Simon Fuller, incoming Chief Financial Officer, stated:
“I am thrilled to be joining M&C Saatchi at such an exciting time for the business. Not only does this truly international brand have a remarkable creative heritage, but there is also a clear and compelling plan and vision for the future. I very much look forward to working in partnership with Zaid, the Board, Bruce and the wider team, to successfully deliver the next stage of the Company’s development.”
