Friday, November 8

Business

M&C Saatchi founders place £1m wager on advert company fortunes
Business

M&C Saatchi founders place £1m wager on advert company fortunes

Three members of the quintet that based M&C Saatchi practically 30 years in the past have positioned a £1m wager on the revival of the promoting company's fortunes.Sky News has learnt that David Kershaw, Bill Muirhead and Jeremy Sinclair, have collectively invested the sum in M&C's London-listed inventory. It takes their mixed stake to about 6% of the corporate, and comes weeks after it introduced that Moray MacLennan, its veteran chief government, would step down from the position. Zillah Byng-Thorne, the previous boss of journal writer Future and chair of M&C Saatchi, will turn into government chair when Mr MacLennan steps down on 30 September.In an announcement, Mr Kershaw mentioned on behalf of the three taking part co-founders: "We in fact...