Rumours abound in the Scottish advertising industry that Jim Faulds, founder and former chairman of Faulds Advertising, is to make a return to Scottish advertising, less than two years after selling the Faulds Group.
Current industry speculation suggests that Faulds has reached the end of a prohibitive contract with the Faulds management team that prevented him from involvement with the industry.
Now that period has come to an end, the Scottish grapevine has been awash with rumours regarding a possible return to the industry, most likely as a non-exec chairman of an agency. Speculation has suggested that this agency could be Leith breakaway Newhaven, a rumour that has been strenuously denied by the agency’s management.
Jonathan Shinton, managing partner at Newhaven, said: “We have not appointed a non-exec chairman. Until we do, all it is is speculation. We’ve been talking to a number of people but we haven’t appointed anyone. We may not appoint anyone. I think he [Faulds] had a restrictive clause on his exit contract when Faulds was sold. That’s run out now and so he’s freed up. With us being the new boys on the block we are an obvious assumption, but it’s as applicable to Bond as it is to us.”
Faulds founded Faulds Advertising in 1985. In 1993 the company was expanded to become the Faulds Group, consisting of Faulds Advertising, Navigator Responsive Advertising, Redpath, Magellan and the Glasgow Agency. During the 90s Magellan, the new media agency in the group, was shut down, while the others continued to grow. In late 2001 Faulds sold his stake in the group in a four-way management buy-out, which saw the agencies split and go their separate ways. He has since become non-exec chairman of a number of companies, including Newell & Budge and i-design.
Faulds was unavailable for comment as The Drum went to press.