A row at Saatchi & Saatchi means that the future of Maurice Saatchi as chairman is uncertain. Shareholders controlling a third of the group’s shares led by Harris Associates of Chicago, were so angry to learn of the option scheme estimated to be worth £5m for Maurice Saatchi, that they have put forward proposals to the company’s board.
These suggest that Mr Saatchi cuts the benefits of the option package, that the main company considers changing the name of the holding company so that ‘Saatchi’ is only used by the operating subsidiary, and that the company considers whether Mr Saatchi should step down from the main board.
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