Scoot hires md in sale restructure

Scoot, the troubled directory company, has appointed a managing director and marketing chief as part of a restructure. This follows the proposed sale of its classified magazine Loot to Daily Mail & General Trust (DMGT).

Scoot commercial director Terry Martin has been promoted to the new post of managing director, where he will oversee the day-to-day running of the business.

Scoot says Martin’s new role will allow the chief operating officer, Jon Molyneux, to concentrate on developing a business strategy for the company.

Scoot strategic planning manager Kerry Upward has become head of marketing. Upward, who will report to Martin, takes over from Neil Hesketh. Hesketh is leaving within seven weeks, when the Loot business is officially sold to DMGT.

The company is also looking for a marketing manager and marketing executive to replace those leaving with Loot.

Martin says the company is looking for a “strategic partner”, but declined to say whether this will lead to an outright acquisition of the business. He also says the company has no plans to review its relationship with its ad agency WCRS.

Last year, Scoot spent &£558,000 on above-the-line advertising.

This week, Scoot announced the sale of the Loot classified advertising business to DMGT for &£45m. The deal included a &£10.5m bridging loan to help Scoot pay off its &£3.5m bank loans and cover short-term running costs.

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