Aegis Directors Expected To Quit

Up to three directors of Aegis are expected to depart in the next few months following growing shareholder pressure; the news comes as the company is expected to announce write-offs of at least £40m in its 1993 results, due on Thursday. There is expected to be a one-off charge for the restructuring arranged with Warburg Pincus, the US investment firm which owns 32% of the company.

Michel Lefebvre, chief financial officer is believed to be one of those departing, as is Charles Hochman, chief executive officer. Hochman is likely to be replaced by Alfred Knobler, currently director of business strategy at Omnicom. Omnicom, the US advertising group owns 9% of Aegis.