Madison World has instituted a pivotal leadership reorganisation even as one of the country’s leading media agencies is reportedly in discussions with multiple global players regarding a potential merger or acquisition.
Ajit Varghese, JioStar head of Revenue for Entertainment and International, has been named partner and Group CEO of Madison Media and OOH.
Varghese replaces Vikram Sakhuja, who served as Madison’s Group CEO until this transition. Sakhuja will continue to play an active role as executive director, partner, and board member, focusing on building organisational capability and based in New Delhi.
“Ajit, like Vikram, will join us as partner and CEO with a stake in the business,” Madison World chairman Sam Balsara stated in a press statement.
“I am delighted to have Ajit join us back. Ajit has all the credentials to steer an agency like Madison into the future: substantial media agency experience at Madison and GroupM, both in India and abroad, then with a digital publisher, and finally with JioStar,” Balsara stated.
Varghese returns to his professional “alma mater” with an ambitious mandate: to drive 2–3x growth through a renewed focus on digital and technology.
Varghese said, “Coming back to Madison feels like returning home, but with a fresh purpose and a bigger mission. This is where my media journey began, and it’s where I now hope to help write its next big chapter. The world of media is transforming at lightning speed, and Madison is uniquely poised to lead with its client-first thinking, independent spirit, and deep talent. I’m thrilled to partner with Sam and the entire team to shape the next phase, to stay future-ready and platform-powered, and to deliver innovation, agility, and measurable business outcomes for brands. The ambition is clear: make Madison the most impactful and future-facing agency in the region.”
Sakhuja added: “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.”
Incidentally, both Varghese and Sakhuja are former global heads of WPP’s Maxus, now known as Wavemaker.
Varghese began his career in media planning at Madison Media, where he served as COO of Madison Media Infinity for seven years, followed by 13 years at WPP Media, where he was managing director, South Asia at Maxus, CEO Asia Pacific at Maxus, and Global president of Wavemaker based in London.
He was also chief commercial officer at ShareChat and, more recently, head of Revenue – Entertainment & International at JioStar, the joint venture between Reliance and Disney.
