Saatchi steps down from Finsbury

Published on Thursday 24 April 2008 21:39

ADVERTISING mogul Maurice Saatchi is to step down as chairman of cake-maker Finsbury, owner of Lanarkshire-based Lightbody Group.

Lord Saatchi outlined plans to retire as chairman in January 2007 at the time of the Lightbody acquisition, saying he would leave a year after the completion of the deal.

Finsbury yesterday confirmed that Saatchi would step down from the board at the end of this month. He will be replaced by David Marshall, who has been deputy chairman of the group since its creation in 2002.

Marshall will be assisted in his role by Paul Monk, who continues as deputy chairman – an appointment he took up in February 2007.

Last month, Finsbury said it was on track for bumper full-year results despite having to raise its prices three times in the past 12 months to cope with soaring raw-material costs.