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The managing director's exit is the latest in a series of changes at parent Aegis.
Colin Mills, the managing director of Carat, is leaving the agency, ending months of speculation over his future.
Mills, 39, has been the managing director at the agency for six years, and joined Carat 11 years ago.
He leaves this Friday but handed his notice in several months ago. Neil Jones, Carat's commercial director, will replace Mills in the short term as the acting managing director.
Mills' departure follows a series of changes at Carat's parent company, Aegis, last year. These included the departure of the Aegis UK and Ireland chief executive, Mark Craze, who was replaced by Nigel Sharrocks, the Warner Brothers managing director.
Sharrocks said he and Mills had worked well together, but that Mills had decided he had spent long enough running Carat. He explained: 'It takes it out of you, running a media company. I've talked to Colin about a job working alongside me in Aegis, so he may be coming back.'
Mills said he will be taking a 'short sabbatical' before considering his options. 'I've been here a long time and ...