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The company’s Chair, Zilah Byng-Thorne, who took on the role in June, will temporarily assume his responsibilities while a search for a permanent replacement begins.
M&C Saatchi, founded by the famous brothers Maurice and Charles, is renowned for its close association with the Conservative Party and its influential campaigns, such as the iconic “Labour Isn’t Working” campaign in 1978, which sparked political controversy.
He was compensated with £1.4 million last year, including a bonus of £650,000, and holds shares in the company worth millions.