Furones has already been groomed for the position - in June last year he was named as the deputy chief creative officer. He will continue to be based in Madrid where he most recently served as the chairman of Vitruvio/Leo Burnett Madrid and the regional chief creative officer of Burnett's Europe, the Middle East and Africa region.
Conrad, who will continue to work for Burnett as a consultant, has been in charge of Burnett's global creative output since March 1997. He was an advocate of Burnett's Global Product Committee, the committee that oversees the global creative output of the network.
He arrived at Burnett in 1980 when his own agency Lurzer, Conrad of Frankfurt was merged into the Burnett group. It subsequently became known as Michael Conrad & Leo Burnett.
Before joining the company, he was a co-founder of the Frankfurt office of TBWA, and worked at Ogilvy & Mather and Young & Rubicam in Frankfurt.
"Michael is a true creative ambassador. We've been planning for his retirement to ensure that his legacy lives on under the leadership of Miguel Angelo Furones," Linda Wolf, the Burnett worldwide chairman and chief executive officer, said.