Whilst Cordiant refuse to comment, today’s national press are full of speculation regarding the appointment of a new chairman for the group. The latest person to be offered the position, which has already been turned down by one prominent city executive, is Michael Miles, former chairman and chief executive of the Philip Morris tobacco group. Miles left Philip Morris last year when his proposed separation of the company’s food and tobacco operations was rejected by the board. Under Miles Philip Morris in 1993 was ranked 11th amongst best performing companies.
The chairmanship has been vacant since December last year when Maurice Saatchi left the company. No decision about the position is expected for several weeks – and may be timed to coincide with Cordiants half year results due in August.
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