Industry sources say that he is on "gardening leave" while the details
of his severance settlement are agreed.
The news comes a week after Bates' Cordiant parent announced it was
axing a further 400 jobs across the world and slashing its profit
Under Bungey's protection, London-based Stern survived a series of Bates
regimes. But an insider said: "The group is having to make cuts and
Stern has a very big salary."
Stern's departure removes one of the few survivors of the managerial
"dream team" credited with the most successful period of Bates UK (then
Bates Dorland) during the late 80s and early 90s.
Along with Bungey, the then chairman, and Andrew Cracknell, the creative
director, Stern was a driving force behind the agency's success.
Previously a client services director at FCB, Stern also served spells
at WCRS and Saatchi & Saatchi. He joined Bates 11 years ago.