By Adam Clark

Market-research firm Kantar said Tuesday that Chief Executive Eric Salama, who oversaw the recently agreed sale of the company to Bain Capital, will step down next year.

Kantar said Tuesday that it will immediately begin looking for a new CEO and Mr. Salama will remain in his role in the meantime, before becoming a nonexecutive director, after 17 years in the top job.

"It has been an intense and rewarding 18 months preparing Kantar for sale and successfully closing a deal with our new partner Bain Capital. I am confident that Kantar has never been better positioned for growth than it is now," Mr. Salama said.

In July, WPP PLC (WPP.LN) agreed to sell a 60% stake in Kantar to Bain Capital Private Equity, raising around $3.1 billion as the advertising company looks to cut down on its agency network. The deal is expected to be largely complete by early 2020.

Write to Adam Clark at adam.clark@dowjones.com

(END) Dow Jones Newswires

December 10, 2019 09:21 ET (14:21 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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