ACP managing director Phil Scott is leaving at the end of December after 10 years with the magazine publisher.
ACP's current chief operating officer and CFO Matt Stanton will be Scott's replacement.
Nine Entertainment Company chief executive David Gyngell said: “Phil is a legend in the magazine business and a man for whom I have nothing but the greatest respect. He is responsible for securing Elle and Women’s Fitness for us as his final major achievement.
"He leaves his full-time role with ACP's trophy cabinet full of peer and industry judged magazine awards over the past two years. He has appointed a great team of editors and publishers, has unified our editorial culture, and leaves a strong succession plan. I am personally sorry to see such an outstanding character step down from day-to-day operations, but I understand and respect Phil's decision not to renew his contract next year."
Scott will step down at the end of December, however he will continue to consult to ACP on its 2012 launch program. This week ACP axed its soccer magazine Football+.
In November ACP annnounced that it would be launching Women's Fitness and Elle in 2012. Last month several ACP titles suffered a dramatic drop in circulation. Also last month Nine Entertainment Co. wrote down the value of ACP and warned that it may have to sell assets due to the strain of a $3.6 billion debt.
Scott paid tribute to his publishing team and editors: "There is never a good time for me to leave a business I've been passionate about for so long, but there is now a great group of people to pick up the baton as I make the transition to a lower level of intensity and more time for my family and myself. It's been great fun, and I leave with a sense of satisfaction in my contribution to the business, and very content with my lot."
"Matt is an outstanding magazine executive with excellent experience from his time with ACP and before that Emap in the UK He is across all the opportunities and challenges facing the business and will lead ACP through its next phase of growth."
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