Alex Sandberg, chairman College Hill, is to step away from day-to-day involvement in the business he founded.
A statement from the agency said that Sandberg will continue to provide support on certain clients and will remain available in a senior consultant role.
Sandberg commented: ‘It’s time for me to step away from the business. I’m proud to have played my part in building the company that I founded into the group that it is today. It’s been a fantastic journey. I believe the building blocks are in place for an exceptional future.'
He told PRWeek that he was currently ‘considering a number of options’, most likely to be mainstream business strategy roles. ‘I’m certainly not retiring,’ he added. He also intends to remain on the broad of the PRCA.
Sandberg founded College Hill in 1990 and sold a majority stake to private equity firm Vitruvian Partners in October last year.
The deal, which valued the group at around £45m, saw Sandberg step down from his role as group chairman, handing day-to-day management of the group to CEO Richard Nichols.
Managing partners Mark Garraway and Matthew Smallwood will continue to manage College Group’s financial PR business.
Nichols said: ‘Alex is stepping away from the business as we start a new growth phase following the investment last year by Vitruvian. I am pleased Alex is going to remain available to us on a consultancy basis. We are all very grateful to Alex for the contribution that he has made.’