Former WPP AUNZ boss Mike Connaghan has launched his own business, MC Consulting after exiting the holding group at the end of 2018.
According to Connaghan's LinkedIn, he has been operating the business since leaving WPP, but only publicly announcing the move this week.
Connaghan, who exited WPP following 12 years with the business and 25 years at the network in total, has remained relatively quiet following his departure.
His final pay was $1,937,680, according to the company's annual report, with $950,000 of that his termination benefit.
Despite WPP AUNZ confirming that Connaghan's official departure date from the CEO role as 31 December, he had said at the time that he would be "available to the board and committee" through to 31 March.
Connaghan was one of the three top agency holding group CEOs to exit over the last six months, with Dentsu Aegis Network boss Simon Ryan (replaced by Henry Tajer) and IPG Mediabrands CEO Danny Bass both elected to exit the top jobs.
WPP is still searching for its next leader, with sources close to AdNews revealing that the international and local search still continues, with multiple top Australian media execs still up for consideration.
While the holding group continues its hunt, WPP AUNZ chairman John "Steady" Steedman has stepped into the role of interim CEO.
This week, Steedman outlined plans for a turnaround and restructuring of WPP at the company's annual general meeting, after the group posted a statutory loss of $17.1 million for 2018.
Steedman says there’s no doubt the advertising industry is facing structural change, not structural decline.
"Like almost every other industry, we are however in the near term facing some economic headwinds, electoral uncertainty and responding to the realities of digital transformation," he says.
"We know that digital transformation is set to continue at an accelerated pace and so is the change in the way consumers utilise information, services and products."
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.