Three More Quit At Saatchis

Three senior executives – Jeremy Sinclair, acting Chairman, Bill Muirhead, US Chief Executive and David Kershaw, Head of London Operations – yesterday all resigned from troubled advertising agency Saatchi and Saatchi over their ‘anger at the Board’s decision to oust Maurice Saatchi as Group Chairman’, accusing the board of “commercial vandalism”.

Unlike Maurice Saatchi the above executives all had ‘hands on’ experience of clients on a daily basis, including BA and the Conservative Party, both of which are speculated to be reviewing their agency relationships following the resignation of Maurice Saatchi.

News of the latest resignations saw Saatchi shares fall 16p to close at 124p. As at 12.00pm shares had fallen a further 15p to 109p.