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Cordiant Communications Group said Friday that Michael Bungey will step down as CEO at the end of the year, instead of at the end of the first quarter, as originally planned. He will cede the post to David Hearn, who became chairman and chief executive of CCG’s Bates Worldwide last March.
In September, Bungey announced his plans to resign at the end of Q1 2003.
At the same time, the British holding company overhauled its organizational structure, combining Bates Advertising with three other specialty units to form an entity with one bottom line, called Bates Group.
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