Ad agency M&C Saatchi names Channel 4's Al-Qassab as new CEO

(Reuters) - British advertising group M&C Saatchi named Zaid Al-Qassab as its new CEO on Thursday to replace co-founder Moray MacLennan, who stepped down from the top job last September.

Al-Qassab, whose appointment will be effective on May 13, was most recently the chief marketing officer at Channel 4.

Zillah Byng-Thorne, who was the acting executive chair at M&C Saatchi, will return to her non-executive role, the company said.

Al-Qassab will be tasked with growing M&C Saatchi, which is forecasting a drop in its annual revenue due to weakness in ad spend by technology clients, and also reviewing loss-making operations against a tough macro-economic backdrop.

He has held marketing roles at BT Plc as chief brand & marketing officer, and spent 20 years at Procter & Gamble in marketing and commercial roles, M&C Saatchi said.

The advertising group took on Channel 4 as a new client last financial year.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Sherry Jacob-Phillips)