Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Saatchi & Saatchi becomes Cordiant

Mathew Horsman
Friday 17 March 1995 00:02 GMT
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Shareholders of Saatchi & Saatchi, the struggling international advertising agency founded by Saatchi brothers Maurice and Charles, voted yesterday to change the name of the company to Cordiant and to introduce new performance incentives to make senior management more accountable.

The company also confirmed that it would defend a writ for libel brought by Bill Muirhead, former head of Saatchi's US operations, against what is now Cordiant and some of its subsid- iaries.

Charlie Scott, the group chief executive, said the name change was necessary to give operating companies "greater freedom to establish their own identities and remove the confusion that has arisen between the holding company and one of our major operating businesses".

Analysts pointed out that the change also allows the publicly quoted holding company to distance itself from former chairman Maurice Saatchi, who is locked in a legal battle with his former company and has set up a rival agency with former Saatchi executives.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in