Madison Media has announced the appointment of Ajit Varghese as partner and group CEO, Madison Media & OOH.

He has stepped down from his role as chief revenue officer, JioStar.

This is his second stint with the agency. He was previously associated with Madison from 1999 to 2006, during which he served as the chief operating officer.

Mahesh Shetty, who is currently serving as head of revenue - large customer sales business, will be taking over from Varghese. 

Sam Balsara, chairperson, Madison World, said, "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 Group M, both in India and abroad, then with a digital publisher and finally with JioStar. Ajit, like Vikram will join us as partner and CEO with a stake in the business. Vikram Sakhuja will continue in the role of executive director, working on building organisation capability, based in New Delhi."

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, stay future-ready and platform-powered Madison that delivers innovation, agility, and measurable business outcomes for brands. The ambition is clear: make Madison the most impactful and future-facing agency in the region."

In a career spanning over two decades, he has worked with The Walt Disney Company, WPP and ShareChat.

Madison itself has been in the news with several reports linking Havas and Publicis with an acquisition.