MAM
Cordiant shareholders approve WPP buyout, sack top executives
LONDON: Shareholders of the struggling British advertising network Cordiant Communications Group removed top executives from the board before approving a buyout by Martin Sorell’s WPP Group. WPP, the world’s third-largest agency company, takes control in August
At the meeting held on 23 July, Cordiant’s chief executive David Hearn, chairman Nigel Stapleton, chief financial officer Andrew Boland were removed from the board. But corporate governance experts said the move was very rare.
An NYtimes.com report says that the buyout by WPP has been highly contested, particularly by Cordiant’s largest shareholder, Active Value Advisors. The major objection raised by the shareholders was that they were not getting a fair due for their holdings. However, over 99 per cent of shareholders voted for the deal because they were left without another choice.
In June, Cordiant had agreed to be bought by WPP in a deal that values the company at about ?10 million ($16.8 million). WPP also bought Cordiant’s bank debt for 100 per cent of its face value. In case of bankruptcy, the shareholders would get nothing, while the WPP deal grants them one WPP share for every 205 Cordiant shares they own, or about 2.5 pence each.
Ultimately, shareholders had their say when they voted 69 per cent in favor of ousting the three executives from the board. “A significant majority of the votes cast by shareholders other than Active Value were in favour of retaining the three directors, Active Value’s votes for removal were sufficient to pass the resolutions,” Cordiant said in a statement.
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Magellanic Cloud names Syed Ameeruddin CEO of e-surveillance arm
Keeping a sharper eye on the future, Magellanic Cloud is putting a seasoned watcher in charge.
MUMBAI – Magellanic Cloud Ltd. has elevated Syed Ameeruddin as Chief Executive Officer of its e-surveillance business, bringing its iVIS and Provigil operations under a unified leadership to accelerate growth in intelligent monitoring and infrastructure solutions.
Ameeruddin, a nearly two-decade veteran of the company, steps into the role after leading the e-surveillance vertical. His career trajectory—from Business Development Manager to the top of the vertical—reflects a steady climb built on operational depth, client engagement, and strategic execution across multiple subsidiaries.
Over the years, he has played a central role in expanding the company’s footprint, strengthening client relationships, and streamlining operations. He has also been instrumental in integrating acquisitions, helping align new businesses with Magellanic Cloud’s long-term strategy while stabilising performance across diverse domains.
More recently, Ameeruddin has contributed to securing key mandates spanning railways, the National Highways Authority of India, and the BFSI sector—wins that have bolstered the company’s order book and deepened its presence in critical infrastructure.
Commenting on the move, Joseph Sudheer Thumma said Ameeruddin’s leadership has been “pivotal in shaping the e-surveillance business,” citing his ability to drive growth, build teams, and deliver strategic wins as key to the company’s journey. His elevation, Thumma added, is expected to further accelerate expansion in AI-driven surveillance and infrastructure solutions.
The transition comes as demand surges for AI-enabled monitoring, centralised command systems, and large-scale deployments across mission-critical environments. Magellanic Cloud’s e-surveillance segment—anchored by iVIS and Provigil—has emerged as a significant growth engine, delivering projects across banking, transport, highways, and public infrastructure.
In his new role, Ameeruddin will focus on scaling platform capabilities, expanding deployments in complex environments, and developing integrated solutions that enhance real-time intelligence and operational resilience. He will continue to serve as Chief Operating Officer of the company alongside his new responsibilities.
With this leadership shift, Magellanic Cloud is doubling down on its ambition to stay ahead in India’s rapidly evolving surveillance ecosystem—where seeing, increasingly, is not just believing, but predicting.
