Cordiant announced that the Chairman, CHARLIE SCOTT
has confirmed his intention to leave the company once a successor has been identified. Scott had agreed with the Board last year that he
wanted to hand over his position during 2003, having spent 13 years working for the Group. The Board has asked Scott to lead the search for his replacement and that exercise is currently underway.
Scott intends to step down once the current management transition at Cordiant is complete and a new Chairman has been appointed.