Following a board meeting which ran late into the night yesterday, the Saatchi & Saatchi board has announced this morning that it will be proposing a change of name for the holding company at an EGM in March.
The board attacked Maurice Saatchi for “the campaign against the company, its clients and staff”, which he was said to be conducting. It was also due to discuss the future of Charles Saatchi, but no statement was made on this matter. He has said he would only leave if fired.
A special committee, including Charles Scott and three colleagues has been set up to deal with matters arising from the recent resignations.
Saatchi’s shares were at 112p in early trading this morning.
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