Outgoing Cordiant Communications boss Michael Bungey is to step down three months earlier than previously anticipated.

Bungey will relinquish the post of chief executive at the London-headquartered ad group on January 1. The date has been brought forward from March (when he will give up his position as executive director) because Cordiant has finished its restructuring ahead of schedule.

Bungey announced his resignation earlier this year on the back of business losses and a nose-diving share price [WAMN: 06-Sep-02]. He will be replaced as chief executive by David Hearn, chairman/ceo of Cordiant’s Bates Group unit.

Data sourced from: New York Times; additional content by WARC staff