The legal feud between Maurice Saatchi and Cordiant ended yesterday, with both sides agreeing to an out-of-court settlement. As part of the settlement former Saatchi executives will be free to work for the new Saatchi agency from the end of May. However, the new agency is not allowed to hire any more of Cordiant’s existing staff until the end of the year.
Cordiant will not attempt to prevent the use of the Saatchi name in the new agency, which will now be called M&C Saatchi. Maurice Saatchi has agreed to drop his claim for unfair dismissal and severance pay.
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