Praveen Kenneth, founder and chairman of Law & Kenneth (which became a part of Publicis Groupe in January 2014, to create L&K Saatchi & Saatchi) has announced his retirement "from active engagement on the side lines of the final sale of his shareholding, in Paris," as mentioned in a press release.
He will be involved over the next six months during the transition, mentoring and guiding the teams, the note says.
Anil Nair, CEO and managing partner of the agency will lead the team now onwards.
Maurice Levy, Chairman of the Supervisory Board, Publicis Groupe, said, "Praveen has been with us slightly after opening Publicis in India (1999) and had led the agency to growth and creative excellence. He then decided to launch Law & Kenneth (2002), which also has been a great success. The acquisition of his agency and the merger with Saatchi and Saatchi (in 2014), has allowed building a superb agency we are all proud of. Praveen is a leader, a real ad man, always led by the interest of the clients. I developed a great personal relationship with Praveen and wish him the very best."
Praveen added, "The incredible success story of Law & Kenneth and L&K Saatchi & Saatchi, has been nothing less than a magical testimony of making the impossible, possible. We ended up doing everything we set out to do over the last 15 years. And none of that would have been possible without our clients who love us, believe in us and have supported us. And our people..."
Praveen went on to say, "...When I began my journey 27 years ago, I let life take charge of everything I do. And life has been very kind to me. I have asked and gotn everything and a hundred times more from life. The future is a great opportunity to give back whatever I have been blessed with. And I am looking forward to that, and hope it allows me to give it back, every bit."