Ajit Varghese gets stake in Madison as he replaces Group CEO Vikram Sakhuja

New Delhi: Former JioStar Head of Revenue for Entertainment and International, Ajit Varghese, will take an equity stake in Madison as he joins the agency as Partner and Group CEO, Madison Media & OOH.

Varghese replaces Vikram Sakhuja, who will continue with the agency as Executive Director, focusing on building organisational capability and based in New Delhi.

“Ajit, like Vikram, will join us as Partner and CEO with a stake in the business,” said Madison World Chairman Sam Balsara in a press statement.

Incidentally, both Varghese and Sakhuja are former global heads of Maxus, now known as Wavemaker.

“I am delighted to have Ajit join us back. Ajit has all the credentials to steer an agency like Madison into the future: substantial media agency experience at Madison and GroupM, both in India and abroad, then with a digital publisher, and finally with JioStar,” Balsara added.

Varghese began his career in media planning at Madison Media, where he served as COO of Madison Media Infinity for seven years, followed by 13 years at WPP Media, where he was Managing Director, South Asia at Maxus, CEO Asia Pacific at Maxus, and Global President of Wavemaker based in London.

He was also Chief Commercial Officer at ShareChat and, more recently, Head of Revenue – Entertainment & International at JioStar, the joint venture between Reliance and Disney.

Varghese said, “Coming back to Madison feels like returning home, but with a fresh purpose and a bigger mission. This is where my media journey began, and it’s where I now hope to help write its next big chapter. The world of media is transforming at lightning speed, and Madison is uniquely poised to lead with its client-first thinking, independent spirit, and deep talent. I’m thrilled to partner with Sam and the entire team to shape the next phase, to stay future-ready and platform-powered, and to deliver innovation, agility, and measurable business outcomes for brands. The ambition is clear: make Madison the most impactful and future-facing agency in the region.”