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Scott Kauffman, chairman and CEO of MDC Partners, is stepping down from his role, according to the company.

Kauffman will continue as a member of the agency company's board of directors following the appointment of a new CEO. He will remain in his post until a successor is found.

"The search led by the Board, which has retained a national search firm, will focus on an executive who can further advance the company's ongoing commitment to creating value for shareholders, differentiating its agencies in a competitive industry, and enhancing its offerings to clients," a company statement said.

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