M&C Saatchi absorbs Lida as the creative agency restocks after redundancies
A solution of sorts has been implemented to save the troubled creative agency M&C Saatchi - a merger with sister shop Lida.
M&C Saatchi's Golik and Kemp
After a cutting series of voluntary redundancies, the new integrated creative agency will span tech and innovation, partnership marketing, customer experience and data analytics. It will boast 225 staff.
M&C Saatchi’s chief marketing officer Kate Bosomworth will leave the business, extending a run of senior departures which includes chief exec Giles Hedger and creative head Justin Tindall in December.
This came a week after the shock exit of co-founder Lord Maurice Saatchi and non-execs Lord Michael Dobbs, Sir Michael Peat and Lorna Tilbian from the agency's eponymous parent company. The overarching M&C Saatchi PLC has endured profit warnings and a high-profile “cock-up in the accounts department”.
The good news is that there are no further job cuts planned. The existing management of both agencies will remain.
The new agency will be led by M&C Saatchi group managing director Camilla Kemp who will assume the role of chief executive officer in the expanded entity. At the same time, Lida’s chief creative officer Ben Golik will transfer to M&C Saatchi in the same position.
Kemp, who benefits from a decade of experience in the business, will oversee the integration of both teams.
She commented: “It's an incredible honour to lead the renewed M&C Saatchi. We have extraordinarily talented people in both businesses and I’m excited that together this team will be able to offer clients broader, richer creative answers to meet the demands they face at a time of unprecedented change."
Also in the M&C Saatchi group is MCD Partners and The Source.
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