Laurna Woods, the CEO of Beattie Communications, is to lead a management buyout of the agency.
News of the MBO follows widespread criticism of a social media post on LinkedIn by the now former chairman.
Gordon Beattie will not have any involvement in the new business and the consultancy will rebrand and change its name in the near future.
The name change is under wraps for the time being, but the buyout will see Woods and her leadership team takeover London-headquartered Beattie Communications which includes offices in Manchester, Leeds, Glasgow and Belfast.
Woods refused to disclose the price she and her team of Elspeth Brown, Joanne Spence, Rachel Gladwin and Chris Gilmour will pay for the agency which has one of the best client books in the UK.
Woods said: "There have been discussions about an MBO for some time and today marks the start of a new chapter for our people and our clients.
"I will be dedicating all my efforts into building a dynamic new agency that is leading in every respect, from the services we provide to the culture we live by. We are fully committed to becoming game changers in the creative industry and an employer that continues to be equal to all. This will be felt through every touch point in our business – from the work we produce to the talent we recruit.
"This buyout will secure the success of a thriving client-focused business. Our new journey starts here.”
Gordon Beattie, a former journalist, said: "I wish the management team every success with the business while I focus on my wider interests.”