
Maurice Saatchi quits advertising firm he co-founded
Maurice Saatchi has quit the advertising agency he co-founded in 1995 along with three other directors in the wake of an accounting scandal.M&C Saatchi shares have collapsed this year from a high of about £4 each to 103 pence after profit warnings.The company also revealed a £11.6m hole in its earnings last week.Lord Saatchi founded the firm with his brother Charles after being forced out of Saatchi & Saatchi after a shareholder revolt.As well as Lord Saatchi, Lord Dobbs, Sir Michael Peat and Lorna Tilbian all quit the board of the firm.Lord Dobbs, a Conservative politician, is best known for creating the House of Cards novels, which were turned into TV series in the UK and the US.'Determined'Sir Michael is a former accountant and courtier, and Ms...