Ajit Varghese Acquires Stake in Madison, Succeeds Vikram Sakhuja as Group CEO
Sakhuja will shift from the role of Group CEO to Executive Director, focusing on enhancing organizational proficiency from the New Delhi office.
New Delhi: Ajit Varghese, the previous Head of Revenue for Entertainment and International at JioStar, is set to join Madison as Partner and Group CEO of Madison Media & OOH, holding an equity share.
Varghese takes over from Vikram Sakhuja, who will stay on with the agency as Executive Director, concentrating on enhancing organizational capabilities and working out of New Delhi.
"Ajit, much like Vikram, will join us as Partner and CEO with an equity interest in the company," stated Madison World Chairman Sam Balsara in a press release.
Both Varghese and Sakhuja were formerly the global heads of Maxus, which has since been rebranded as Wavemaker.
“I am thrilled to welcome Ajit back. Ajit possesses the expertise required to steer an agency like Madison towards the future: extensive experience in media agencies at Madison and GroupM, both domestically and globally, followed by a role at a digital publisher, and most recently with JioStar,” Balsara stated.
Varghese launched his media planning career at Madison Media, where he served as COO of Madison Media Infinity for seven years. He then dedicated 13 years to WPP Media, taking on roles such as Managing Director, South Asia at Maxus, CEO of Asia Pacific at Maxus, and Global President of Wavemaker while based in London.
He also held the position of Chief Commercial Officer at ShareChat and, most recently, was the Head of Revenue - Entertainment & International at JioStar, a joint venture between Reliance and Disney.
Varghese expressed, "Returning to Madison feels like coming home, but with a renewed focus and a broader mission. This is where my journey in media started, and I aim to play a role in its upcoming significant chapter. The media landscape is evolving at an incredible pace, and Madison is in a strong position to take the lead with its client-centric approach, independent mindset, and talented workforce. I’m eager to collaborate with Sam and the entire team to develop the next stage, stay prepared for the future and powered by platforms, and drive innovation, flexibility, and measurable success for businesses. The objective is clear: to make Madison the most influential and forward-thinking agency in the region."