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Keith Smith, the international president of TBWA, has kicked off a search for a new European chairman, following Paul Bainsfair's resignation on Friday.
Smith denied rumours that headhunters had already been briefed, and said: 'Paul made the decision to resign in the wake of mounting pressure and speculation. We still have to decide the nature of this role and who the best person is to follow Paul, but have not yet approached anyone.'
Staff at TBWA\London were informed of ...