Joseph has been heading the Y&R operations in Malaysia as CEO for the last 20 years and took over the role of chairman two years ago. Prior to joining Y&R he worked with Ted Bates for eight years.
It is believed that Joseph's impending departure is likely to trigger high staff turnover. Nigel Schubert, the CFO of Y&R Malaysia, is already believed to have left the agency.
A source who did not wish to be named said that the reason for the departures could be an apprehension about the next CEO or chairman who will lead the agency. “The senior people have worked with Rishya and they have a comfort level with him, which they might not have with the new person. As far as I know at least 14 senior-level people will be moving out after the chairman leaves.”
The implications for Y&R's clients in the market are not yet known.
The reasons for Joseph’s departure remain unclear, with some sources claiming that his contract was to expire this year in December and he had indicated his desire not to renew it. According to an agency insider Joseph is looking at taking a short break after he leaves the agency.
The news of Joseph’s exit follows the departure of Ram Kapoor, Y&R Vietnam’s CEO in August. His replacement is yet to be announced.
A few months ago Y&R Indonesia announced the appointment of Vishal Mehta as its new CEO following the departure of Johan Shabudin, who left the agency to set up his own business.
Last year in October Y&R Malaysia appointed David Mitchell as general manager.
A Y&R spokesperson declined to comment.
It is believed that Joseph's impending departure is likely to trigger high staff turnover. Nigel Schubert, the CFO of Y&R Malaysia, is already believed to have left the agency.
A source who did not wish to be named said that the reason for the departures could be an apprehension about the next CEO or chairman who will lead the agency. “The senior people have worked with Rishya and they have a comfort level with him, which they might not have with the new person. As far as I know at least 14 senior-level people will be moving out after the chairman leaves.”
The implications for Y&R's clients in the market are not yet known.
The reasons for Joseph’s departure remain unclear, with some sources claiming that his contract was to expire this year in December and he had indicated his desire not to renew it. According to an agency insider Joseph is looking at taking a short break after he leaves the agency.
The news of Joseph’s exit follows the departure of Ram Kapoor, Y&R Vietnam’s CEO in August. His replacement is yet to be announced.
A few months ago Y&R Indonesia announced the appointment of Vishal Mehta as its new CEO following the departure of Johan Shabudin, who left the agency to set up his own business.
Last year in October Y&R Malaysia appointed David Mitchell as general manager.
A Y&R spokesperson declined to comment.
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