Kantar CEO Eric Salama has announced that he will step down from his role, less than a year after he survived a knife attack near his home in West London when a man attempted to steal his car.
He will help Kantar to hire a successor and will remain on the board as a non-executive director.
Mr. Salama worked as a Labour speechwriter and researcher on foreign affairs from 1984 to 1986 and has advised the government on business and ecommerce. He worked for the WPP group since 1994, after it acquired consumer consultancy The Henley Centre, and started at WPP as Director of Strategy, before joining Kantar in 2003.
WPP recently sold a 60% stake in Kantar to Bain Capital Private Equity, with total aggregate net proceeds expected to be around $3.1 billion. According to The Times, Mr. Salama will have earned a sizeable payout from the deal but has turned down a lucrative retention package.
Salama said: “It has been an intense and rewarding 18 months preparing Kantar for sale and successfully closing a deal with our new partner Bain Capital. I am confident that Kantar has never been better positioned for growth than it is now. After 17 years as chief executive now is the right time for me to pause, reflect on my personal priorities and explore other experiences. I am delighted that, after helping with the transition to a new chief executive, I will continue to be involved in the business I love.”
WPP CEO Mark Read says: “Eric’s contribution to WPP and to Kantar has been immense since the company he was part of was acquired by WPP in 1988. Over the past 17 years, he has built Kantar from its infancy into the world’s leading data, insights and consulting company and then worked tirelessly to transition the company to the next phase of its development. We understand his decision and are delighted that he will continue to help and advise the company in his new role.”
