LONDON, Sept. 19, 2002 (PRIMEZONE) -- The Board of Cordiant (NYSE:CDA) announces that the Chairman, Charlie Scott, has confirmed his intention to leave the company once a successor has been identified. Mr. Scott had agreed with the Board last year, that he wanted to hand over his position during 2003, having spent 13 years working for the Group.
The Board has asked Mr. Scott to lead the search for his replacement and that exercise is currently underway. Mr. Scott intends to step down once the current management transition at Cordiant is complete and a new Chairman has been appointed.