Maurice Saatchi

Maurice Saatchi, deposed chairman of what was once the world's biggest advertising group, said Wednesday he is striking back by forming a new agency. Saatchi will staff the new group with senior executives who have quit Saatchi & Saatchi Co. since his dismissal. Just hours after his announcement, British Airways, one of Saatchi & Saatchi's biggest clients, said it decided to end its contract with the company pending a review of its advertising.

Cordiant said it will split into three companies in a move to boost sales and increase profitability at its Saatchi & Saatchi and Bates Worldwide advertising agencies. The British advertising and marketing company said shares in Saatchi and Bates will trade separately on the New York Stock Exchange. The companies will jointly own media buying unit Zenith Media.

Saatchi & Saatchi Co. sued ousted co-founder Maurice Saatchi on Thursday as it tried to combat a crisis that devastated the advertising company's stock price and sent executives and clients packing. The huge ad concern accused Saatchi and three other former company executives of "a conspiracy to injure the business of the group."

Saatchi Brothers Trying to Buy Back Name: Maurice Saatchi, the former head of Saatchi & Saatchi, is trying to buy back the name of the international advertising agency he and his brother founded, according to a report in London's Independent. In return, Saatchi is offering to promise to extend his moratorium on poaching any more clients and staff members.

Advertising executive Maurice Saatchi is free to compete with his old company, Saatchi & Saatchi Group, for the time being, but three of his colleagues cannot immediately help his new venture. A judge on Monday refused Saatchi & Saatchi's request to issue injunctions that would have hindered Maurice Saatchi's ability to form a new ad agency.

2 Clients Move Business to Maurice Saatchi: Becoming the first actual client defections since British advertising executive Maurice Saatchi's stormy departure from Saatchi & Saatchi Co. in London, publisher Mirror Group and tobacco maker Gallaher Ltd. said they will move their business to Maurice's new agency. British Airways also said it will let Maurice bid against Saatchi & Saatchi for its account. Saatchi & Saatchi Advertising Worldwide said the losses represent about $23.

The High Court began hearing the first of Saatchi & Saatchi's legal actions against ousted Chairman Maurice Saatchi on Wednesday, and within hours the company had threatened to press new lawsuits to protect its name. But Maurice Saatchi appeared to have outmaneuvered his old firm again. His lawyer told the court he had already set up a new advertising agency, with staff, and named it Dress Rehearsal.

New Legal Action in Saatchi Drama: The fighting between advertising executive Maurice Saatchi and his old firm intensified as Saatchi & Saatchi Co. took new legal action against Saatchi and his brother, Charles. Saatchi & Saatchi began British legal proceedings that attempt to recover profits, reported at around $40 million, the brothers made from an investment in the German sportswear company Adidas in February, 1993.

Maurice Saatchi Sues for Breach of Contract: Maurice Saatchi sued Saatchi & Saatchi Co., claiming it broke his contract when it fired him as chairman last month. Maurice's action, the latest chapter in an acrimonious battle between the Saatchi brothers and the group they built, came in response to suits it served on him last week.

Shares in the embattled advertising group Saatchi & Saatchi Co. rose 9% Monday, as an investment bank took a big stake and the company's board held a meeting that reportedly could lead to a new name. Saatchi & Saatchi was rocked last week by the departure of co-founder Maurice Saatchi, who cut all ties to the group after U.S. shareholders forced him out as chairman.

British Airways Gives Account to New Saatchi: The airline awarded its prestigious advertising account to the new agency of Maurice Saatchi, giving him a major victory over his old company, which booted him out as chairman last year. Shortly after Saatchi cut all ties to Saatchi & Saatchi Group, British Airways put the old Saatchi company on notice that it was canceling its advertising account, worth about $96 million a year in billings.

Saatchi & Saatchi Advertising, the agency thrown into turmoil by the stormy departure of co-founder Maurice Saatchi, on Monday named a former executive as its new chairman. Jennifer Laing, who spent 17 years at Saatchi & Saatchi before building up her own ad agency, Laing Henry, will take over the post left vacant when David Kershaw joined an exodus from Saatchi & Saatchi in January. Laing Henry is set to be sold for $1.

New Legal Action in Saatchi Drama: The fighting between advertising executive Maurice Saatchi and his old firm intensified as Saatchi & Saatchi Co. took new legal action against Saatchi and his brother, Charles. Saatchi & Saatchi began British legal proceedings that attempt to recover profits, reported at around $40 million, the brothers made from an investment in the German sportswear company Adidas in February, 1993.

Advertising executive Maurice Saatchi is free to compete with his old company, Saatchi & Saatchi Group, for the time being, but three of his colleagues cannot immediately help his new venture. A judge on Monday refused Saatchi & Saatchi's request to issue injunctions that would have hindered Maurice Saatchi's ability to form a new ad agency.