Punitha Arumugam, group chief executive officer of Madison Media has submitted her resignation at the agency. Highly placed industry sources close to the development confirm the news and add that she will continue at Madison till the end of March. Sources also say that Arumugam's replacement will be announced in two-three weeks.
In a separate development, D Sriram is set to join Madison Media as consulting director. Sriram was Madison's first media director. Subsequently, he joined Starcom MediaVest and became the APAC head at the agency. Later, he went on to head Aegis Media as chief operating officer, China.
Arumugam, who has more than 16 years of media experience, had joined Madison Media in 1999 as media services director. She was later promoted as chief operation officer, West in 2001, and went on to become the CEO at the agency. Arumugam began her career with Ogilvy & Mather, Chennai and later joined Lintas Initiative Media.