Campaign Asia-Pacific broke the news on 22 May, although at that time both Lee and Billingsley and the agency's PR director denied the rumour.
Billingsley will relocate to the Saatchi & Saatchi London office in August, to take up the newly created role of chief operating officer for the agency across Europe, Middle East and Africa (EMEA), and will work in partnership with EMEA CEO Robert Senior.
Lee (pictured), currently president and COO for Greater China, has been promoted to CEO of Saatchi & Saatchi Greater China.
One major difference is that Billingsley, as Greater China CEO and chairman, reported directly to Kevin Roberts, worldwide CEO of Saatchi & Saatchi in New York, while Lee will report to Chris Foster, chairman and CEO for Asia-Pacific, based in Singapore.
Lee will be based in Shanghai and lead the Saatchi & Saatchi offices in Shanghai, Beijing, Hong Kong and Guangzhou, with a client roster including P&G, Mondelez, Coca-Cola, Huawei, Lenovo and Lexus.