Scott's resignation follows the recent news that chief executive Michael Bungey is to retire in March 2003 to be replaced by Bates Advertising chief David Hearn. In a statement, Cordiant said Scott's resignation had "absolutely nothing to do with shareholder pressure".
The departure of Cordiant's two most senior executives makes way for a new era at the company, the future of which many see as one that will include a merger with one of its larger rivals.
Bungey's exit came after the group announced that pre-tax profits for the first half of the year had fallen by 48% to £11.5m.
Cordiant has also announced that it is to reorganise its agencies into a single group, called Bates Group, to cut costs and offer clients an integrated service. It made the changes in response to major shareholders the Harris Group and Active Value, after concerns at the dramatic fall in Cordiant's share price.
Scott, who will leave the agency group early next year at the latest, departs Cordiant after 13 years with the firm, dating back to 1990 when it was still part of Saatchi & Saatchi.
Another bid for Cordiant was recently mentioned as being prepared by creative director Alan Page, who has worked for agencies including Yellowhammer and Harari Page. He is said to be putting together a team to mount a bid for Cordiant and will use his AIM-listed company NWD to make the bid.
Reports have suggested that Page team would sell off acquisitions made during the reign of Bungey, which could include City PR specialist Financial Dynamics and the German ad network Scholz & Friends.
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