Walters, who has been the company's UK number one for four years, is to return to a client-facing role at MS&L.

‘After four years in charge it is time to go back to the floor,' said Walters. ‘Mark Hass [global CEO] and I will now put a lot of thought into a succession plan.'

Walters said he had made the decision to step back jointly with Hass and he hoped to take up a ‘senior consultancy role' around February or March. He will work on clients including De Beers.

No decision has yet been made on whether Walters' replacement will be from inside MS&L or an external appointment.

Walters joined MS&L in January 2003 after an industry hiatus (PRWeek, 10 Jan 2003). He had previously been GCI Asia-Pacific chairman.

For more on this story see PRWeek's next edition, 8 December 2006.