Lord Saatchi will work with Liam Fox, the other co-chairman, and will look at the Tories' campaigning, media and policy units. They take over from Theresa May, who was most famous during her tenure as the chair for wearing a pair of leopard-print kitten-heel shoes during the party conference last year.
The Conservative Party has long been championed by Lord Saatchi, who devised the "Labour isn't working" advertisement that is widely credited as being a major factor in the success of Margaret Thatcher's 1979 election campaign.
After being ousted from the board of the Saatchi & Saatchi, the advertising agency he founded with his brother Charles, the pair went on to establish M&C Saatchi in 1995. With the agency now being run by joint chief executives Moray MacLennan and Nick Hurrell, Lord Saatchi has turned his attention to a new business called Saatchinvest, which buys under-performing brands and attempts to turn them around.
With the Tories, Lord Saatchi will face a similar task. While the appointment of Michael Howard as the new leader has been well received by the media, there is still a huge amount of work to be done before the party presents a viable challenge to Labour.
Several rich donors abandoned the party during Iain Duncan Smith's leadership -- no doubt Lord Saatchi will be looking to reverse this trend. He was made a life peer in 1996, under the premiership of John Major.
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