Cheng did not elaborate on her the reason behind her resignation, but said that Fay’s (pictured) transition to become head of the agency was a move to increase efficiency amid the economic downturn.
She added that the move did not signify a merger between the two agencies, which are both part of Publicis Groupe, and would not affect daily operations.
“Both companies will keep their brands, and will operate as separate teams and companies,” she said, stating that the only notable change would be Fay’s serving as “official spokesperson” for Publicis.
Fay declined to comment on the development. However, Publicis Asia chief executive Matthew Godfrey explained that the streamlined model was similar to that in a number of other markets, including Vietnam. Publicis Vietnam has operated in tandem with Saatchi & Saatchi since its establishment. Godfrey said that while both agencies would retain their respective identities and front-end operating procedures, the back-end resources would be consolidated to cut costs.
“It will be business as usual,” Godfrey said, adding that Publicis Taiwan, which has around 45 staff, already shared the same building as Saatchi & Saatchi. “I would like to thank Sylvia for her partnership over the past two years, and to welcome Chris to the extended Publicis family. He has a great reputation in Taiwan and I am sure he will extend that reputation to our brand and to our clients.”
Fay will report to Laurie Kwong, who was promoted from head of Publicis Hong Kong to Greater China chief executive at the end of last year, overseeing mainland China, Hong Kong and Taiwan.
The realignment is expected to take full effect in October upon Cheng’s departure. Cheng joined Publicis from OgilvyAction in 2007.