M&C Saatchi has suffered a setback in its bid to fend off a hostile takeover after Chief Financial Officer Mickey Kalifa handed in his resignation.
The firm announced today that Kalifa would step down from the role, which he has held for under three years, for personal reasons.
Sky News reported that Kalifa had been approached about a senior role at Dept, a digital agency based in Amsterdam.
The announcement comes as the advertising and creative services giant looks to fend off an approach from AdvancedAdvt, headed by Vin Murria, one of Britain’s most successful technology entrepreneurs.
Murria also holds a role as M&C’s deputy chair and holds a sizeable minority stake in the business.
AdvancedAdvT, which also holds a stake in M&C Saatchi, targets mid-cap acquisition opportunities in the software sector, with the value of acquisitions from the expected to be in excess of £100 million.