It's official. Aegis Media has confirmed the resignation of deputy chairman Stuart Mitchell.
The move had been widely anticipated after the completion of the Dentsu deal. However, executive chairman Harold Mitchell denied such rumours as recently as March.
It is thought Mitchell junior is in line for a multimillion dollar payout following completion of the takeover.
Stuart Mitchell said: “This decision was not an easy one. However it is time for a change and the next evolution in my life. It has been an amazing personal journey over the last 21 years; to help and lead our family business to develop into the largest and most diverse communications group in Australia. I have learnt much, made many personal and professional friendships, locally and globally, for which I will be forever thankful.
“Aegis Media ANZ is a group of some 30 media, marketing and communications businesses, many of them leaders, specialists and number one in their field, with over 1,100 highly creative, skilled and committed staff. In the last 12 months, as in the 21 years previously we have continued to innovate, and the Dentsu tie up will bring additional opportunities to accelerate this. With the quality of our local leaders and staff, I could not be leaving the business in better shape.”
Harold Mitchell said: “I’m grateful for the incredible single handed contribution by Stuart at my side for more than two decades. It was one of advertising’s great team efforts. As for the future, it is business as usual”.
Aegis Media ANZ chief executive Luke Littlefield said “Over the past 21 years Stuart has made an enormous and often unheralded contribution to the businesses of Mitchell & Partners, the Mitchell Communication Group and more recently Aegis Media. His legacy will be long lasting in terms of the staff, the evolution of the group through the acquisitions and organic business growth he has led, and relationships with clients and the media.”
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