Saatchi & Saatchi plc

Saatchi & Saatchi, founded by brothers Charles and Maurice Saatchi in 1970 (Serrill, 1995), was incorporated in England and Wales on January, 26, 1990, as a private limited company under the name Gemgrove Services Ltd. The name changed to Chafma Consultants Ltd. on April 17, 1990. It changed again to Team Saatchi Ltd. on May 3, 1995, and changed again to Saatchi & Saatchi plc on September 4, 1997, when the company registered as a public limited company.

On December 15, 1997, the company was spun off by Cordiant plc in a demerger, resulting in the formation of two separate publicly traded companies - Cordiant Communications Group plc and Saatchi & Saatchi plc. It was a transaction whereby shareholders of Cordiant received one share of Saatchi and Saatchi plc and one share of Cordiant Communications Group plc for every two Cordiant shares held. Saatchi & Saatchi plc was listed on the New York Stock Exchange on December 19, 1997 with the symbol SSA. It is listed on the International Stock Exchange in London with the symbol SSI.

The principal stockholders after the demerger in 1997 were PODFM Ltd. (24.2 percent), Trimark Investment Management (10.0 percent), State of Wisconsin

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ents included American Express and H. J. Heinz, rejoined Yankelovich when Saatchi & Saatchi purchased both firms (Gannes, 1986). In 1986, they were pursuing buying Chicago's Tatham-Laird & Kudner ad agency and the Los Angeles-based firm Chiat-Day. Their campaign line "Labour's not working" is largely credited with putting Margaret Thatcher at 10 Downing Street, and their campaigns for British Airways and Guiness Stout have been widely praised. On April 14, 1986, when Saatchi and Saatchi was the world's fourth-largest advertising agency, it made a $50 million cash downpayment for the U.S. agency Backer & Spielvogel and at the same time made a stock offering that was expected to raise more than $600 million. The acquisition was considered brash, since the company's billings at the time were only $4 billion. Between them, Charles and Maurice built Saatchi and Saatchi into what, in the 1980s, became briefly the world's biggest ad agency. Maurice is remembered mainly for a "visionary" project of one-stop selling advertising, management consulting and financial services to corporate clients. Unfortunately, his dream impoverished his shareholders. A wave of mergers in the ad agency sector led to a slump in ad agency sto
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