Brand Marketing
FMCG firms cut senior roles by 32%; Total headcount shrinks 9.26% in FY25
Madison's Vikram Sakhuja bets on Ajit Varghese’s leadership to drive 2–3x growth with bigger digital, tech play
Vikram Sakhuja, who served as Madison’s Group CEO until this transition, will continue to play an active role as Executive Director, Partner, and board member. Varghese’s appointment also comes at a time when Madison World is in discussions with multiple global players regarding a potential merger or acquisition.
In a strategic move set to reshape the trajectory of one of the country's leading media agencies, Madison World on Thursday had announced the appointment of Ajit Varghese as Partner and Group CEO of Madison Media and OOH. His return marks a pivotal shift in the agency’s leadership, accompanied by an ambitious mandate: to drive 2–3x growth through a renewed focus on digital and technology.
Vikram Sakhuja, who served as Madison’s Group CEO until this transition, will continue to play an active role as Executive Director, Partner, and board member. “Ajit’s mandate will be to grow the agency’s tech and digital capabilities. We will infuse more investments towards digital and tech for 2–3x growth under Varghese’s day-to-day leadership,” said Sakhuja. “I will continue to support the agency at an organizational level and be available for clients.”
Varghese, like Sakhuja, comes on board as Partner and CEO with an equity stake in the business. His appointment also comes at a time when Madison World is in discussions with multiple global players including ad holdcos, regarding a potential merger or acquisition. Industry sources also suggest that names like Accenture and Stagwell Inc. have emerged as potential suitors, though no formal confirmation has been issued.
A top industry executive noted, “Ajit’s appointment will help Madison to bolster its digital-first, tech-savvy image. It will position the agency as a stronger negotiator in any M&A deal. His credibility and global exposure give Madison the leverage it needs to play in the big league.”
As global holding companies and consultancies scout for acquisition-ready agencies with strong India presence, Varghese’s leadership is expected to enhance Madison’s strategic value - not just through organic growth, but by deepening its attractiveness as a tech-forward media powerhouse.
Varghese, a seasoned media professional with over three decades of global experience, began his career at Madison and now returns with a far broader perspective, having held senior leadership roles at GroupM, ShareChat, and most recently, JioStar — the Reliance-Disney joint venture. At JioStar, he was instrumental in spearheading revenue strategy across entertainment, digital, branded content, and connected TV platforms.
“This is where my media journey began, and it’s where I now hope to help write its next big chapter,” said Varghese. “I’m thrilled to partner with Sam (Balsara) and the entire team to shape the next phase, stay future-ready and platform-powered Madison that delivers innovation, agility, and measurable business outcomes for brands.”
His return, symbolic of a homecoming, may also mark the beginning of a transformative era for Madison World, one focused on scale, digital evolution and possibly, a broader global footprint through strategic partnerships.
In a previous interview after his AAAI Lifetime Achievement honour, while reflecting on his journey, Sakhuja said, “It’s been an incredible ride. The advertising and marketing industry has undergone a monumental transformation over the years. When I started, television was the 'new kid on the block,' and we were shifting from print and radio to TV advertising. Then came integrated marketing communications, followed by the digital revolution. Now, with AI reshaping everything, the language and approach to marketing have fundamentally evolved.”
He added, “For me, this isn’t the end - far from it. I feel like a kid in a toy store, eager to discover what’s next, to understand it, and to find ways to create value. The game has changed so much, and I believe there’s still so much to learn and contribute.”
When asked about retirement, Sakhuja smiled and said, “Not at all! If they try to kick me out, I’ll go kicking and screaming. Jokes aside, I’m not retiring anytime soon. Many industry leaders who’ve received lifetime achievement awards remain active for years. To me, these awards are more like a comma than a period."
Info Edge ups FY25 Ad budget to ₹373 cr to drive growth in Naukri, 99acres
The number of complaints filed under the POSH Act witnessed a sharp increase in FY25 compared to the previous financial year.