Hayward said he planned to ‘take time out for a while’, before starting a new business in Asia next year.
His departure comes at the end of a two-year earn-out period following his sale of Bulletin to Cordiant Communications in May 2001 (PRWeek, 11 May 2001) in a deal worth an initial £2.9m.
Having founded Bulletin in 1989 with start-up capital of just £1,000, the firm has grown into an international operation handling accounts from offices in Singapore and New York, as well as London.
Hayward said he was currently ‘managing a transition alongside his team’, stressing there would be ‘continuity’, with the company being run by Chris Foulerton in London and Paul Lewis in Singapore.
Hayward said he ‘probably’ planned to relocate to Asia full-time, saying ‘Asia, particularly China and India’ offered opportunities for a firm that would ‘not be a PR agency but will involve aspects of marketing’.