Saatchi & Saatchi is searching for a long-term successor to chairman and chief executive Ed Wax.
Wax is contracted until the end of 1997 but wants to appoint a number two – the role previously held by Bill Muirhead. He has hired headhunters to handle the task.
The four regional heads of Asia, Australasia, Europe and the US all report to Wax and the chosen person will take on his responsibility.
Wax denies he has any immediate intention of retiring: “I’m looking to strengthen senior management on a global basis. I want an orderly, long-term succession, but not for three or four years.”
He was elevated to the Cordiant board in January following top-level departures from the company. These included Maurice and Charles Saatchi as well as former US chief Muirhead – who went on to create M&C Saatchi with other former senior Saatchi executives.