Peter Scott, founder of Engine Group – which was acquired by Lake Capital for £100m earlier this year – has stepped down.
Chairman and chief executive of Engine, Scott has spent over 30 years in the advertising industry, originally a co-founder of Wight Collins Rutherford Scott in 1979.
He then conceived and executed the WCRS buyout from Havas in 2004. Scott was also involved in overseeing group development from flotation in 1983 through to repositioning it as Europe’s largest media buying group - Aegis.
Confirming Scott’s departure to The Drum, an Engine spokesperson said: “This follows the recent transaction and careful thought about the future strategy and direction of the group.”
Speaking to The Drum last month, Lake Capital and Engine Group boss Terry Graunke said that focus for Engine will now be on “filling the gaps” in its group proposition, including acquisitions In the ad-tech, data and analytics market.
Engine currently consists of 13 agencies, including WCRS, Jam, Mischief and MHP Communications.