Billett, 63, will be stepping down 18 months after he and his management team sold Billetts to Thomson Intermedia for £13.1 million. With his earn- out period coming to an end, he has decided to sever ties with the company. He will also step down from his role as the chairman of its US operation.
Having begun his media career 41 years ago as a Unilever trainee, Billett launched his first business, the media buying agency Billett & Company, in 1981, before selling it to Chris Ingram's CIA in 1989. He became the chief executive of CIA before he launched the Billett Consultancy auditing business as part of CIA in 1993, which he took independent in 1995.
Billett said that he will not be retiring, but will favour consultancy work over launching another business: "There's life in the old dog yet. I want to work in commercial communications for few years yet."