Thompson Brand Partners has been bought by its senior management team, which has acquired the shares of founder Ian Thompson and managing director Nick Ramshaw.
Mr Thompson is reducing his commitment to the agency to spend more time filmmaking and on his other interests. He will continue as a consultant in the short term.
Mr Thompson said: “I’m delighted to be able to give the team the opportunity to take on the company.
“They are undoubtedly the right people for the job and this is the natural time for me to step aside and let the new team develop what has been built over 35 years.
“I’m ready to see what I’m capable of creatively as a film maker and I’m also ready to work with other creative teams to see if my experience can help them too.
“It’s a truly fulfilling moment when you can watch your company turn into something new, in fresh hands. This wonderful team have my warmest wishes and full support.”
Mr Ramshaw will continue to work with the agency as MD, helping to support the new team through the transition.
The new management team is made up of Chris Skelton, Paul McGuigan and Rachel Cook.
Mr Skelton said: “There’s already so much to be excited about in this business: Ian has helped us build a fantastic reputation and portfolio of work; there’s a studio full of exceptional talent and we’re lucky to have some amazing clients and projects. But we can also see opportunity to grow and make things even better.”