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Cordiant Chairman to Step Down

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NEW YORK -- Cordiant Communications Group chairman Charlie Scott intends to step down once a successor is named, the British holding company confirmed Thursday.

Scott has been with the company for nearly 13 years, seeing it through its many incarnations, including the Bates and Saatchi & Saatchi de-merger in 1997.

The announcement comes two weeks after CCG CEO Michael Bungey revealed his plans to resign at the end of March and Bates Worldwide CEO David Hearn was named his successor.

"It was [Scott's] job to oversee the executive succession, which he has done, and now he will oversee his own succession," said CCG spokesman Alex Sandberg at College Hill Associates, adding that Scott will lead the search for his replacement.