M&C Saatchi names Simon Fuller as CFO

British advertising group M&C Saatchi SAAL said on Friday Simon Fuller had been appointed as its next chief financial officer, effective July 1.

Fuller replaces Bruce Marson, who will revert to the position of deputy CFO, the company said in a statement. This is the second senior level management change at the group this year, after Zaid Al-Qassab was named the new CEO in February.

The company said Fuller has held the CFO position at Reach Plc RCH and McColl's Retail Group MCLS, and has also handled senior managerial roles in the finance functions of Tesco Plc TSCO, BT Group BT.A and COLT Telecom Plc.

The new finance chief takes guard at M&C Saatchi at a time the advertising industry has been grappling with significant cutbacks by tech clients on marketing, while new business wins have been at a slower pace amid cautious customer spending in an uncertain economic environment.

M&C Saatchi in April said it expected to meet profit targets this year, betting on cost-cut measures and divestment of loss-making businesses, after reporting a 10% drop in 2023 earnings.