Euro RSCG chief executive Mark Cadman is understood to be leaving the agency after months of speculation about his future. It is not known if he has a job to go to.
The news comes despite repeated denials by both Cadman and the agency that he was leaving. He responsibilities will be shared between Russ Lidstone, the agency’s chief strategy officer and managing partner, will take on the role of acting chief executive, and executive creative director, Mark Hunter.
Cadman’s exit follows two major losses for the agency over the past couple of weeks, with the £13m ad account for The Sun and News of the World shifting to WCRS, following a pitch against Fallon and Red Brick Road.
Last week, the agency also lost the £30m 3 mobile ad account to Glue without a pitch. The move comes just 18 months after Euro RSCG had won the business following a pitch against Glue and Hurrell and Dawson.
In response to mounting speculation in August, Cadman told Marketing Week that he was “not going at all – I’m enjoying myself”.
No one at Euro RSCG was available for comment.