What you need to know:

• GroupM CEO Mark Lollback is exting the WPP-owned media investment arm after five years with the business.
• The former McDonald's marketer will depart this Friday, March 19.
• Lollback has stated he will be returning to client-side, with a focus start-ups he has invested in.

GroupM boss Mark Lollback has revealed he will step down from his position, effective from Friday March, after five years with the WPP-owned media investment arm.

WPP AUNZ is actively in market for a replacement, with GroupM APAC CEO Ashutosh Srivastava leading the business in the interim.

The former marketer is the latest high-profile GroupM executive to exit the local business in the last 12-months, with Chief Investment Officer Nic Lewis taking a global position in the company's addressble TV business Finecast and Digital boss Venessa Hunt taking a newly created role within ThinkPremiumDigital.

Lollback has led the GroupM business since April 2016, following several senior marketing roles including VP of Marketing for Unilever, ANZ CMO for McDonald’s and CMO for ANZ Banking Group.

Mi3 understands that Lollback had been looking to return to client-side prior to the end of last year, actively searching for roles in market.

“Following more than 30 years working for some of the most respected multinational companies and brands across the globe, I have decided that it is time to return to where my heart is, into client-side marketing," Lollback said.

"I plan to work more closely with several innovative start-ups I have invested in over the last few years and use my experience and learnings to pursue Independent Board Director positions."

Earlier this year, Mi3 reported that Lollback and GroupM were undertaking a major business transformation programme, appointing PwC to help drive the overhaul.

It was understood the work would focus on a broad restructuring, driving efficiencies and simplifying group processes.

WPP AUNZ CEO Jens Monsees thanked Lollback for his hard work and dedication running GroupM across the region.

“Mark is a highly regarded industry leader, and on behalf of myself and the executive team we would like to thank him for his strong leadership through challenging times."