Former ACP boss turns yellow

By Allan Swann

Bruce Cotterill has taken over Yellow Pages as its new chief executive, in a bid to stabilise the company for dark times ahead.

Mr Cotterill, former the managing director of ACP Media in New Zealand, has a reputation for turning around struggling enterprises.

The Yellow Pages company, purchased from Telecom last year by CCMP capital and Ontario Teachers Plan for $2.26 billion, is,  like most classified category publications, expected to be hit hard by the downturn.

Yellow Pages publications around the world are stagnating, as more businesses, and searchers, turn to the internet for information.

The new owners have upgraded the search engine and added other features to yellow.co.nz, and as a result the cost of listing a business on the online directory has doubled from between $16-55 a month to $30-110.

CCMP ditched plans in September last year to sell up to $150 million worth of bonds to investors, citing concerns over global credit markets for a lack of interest.

Mr Cotterill, and his extensive experience with company’s such as ACP, Canterbury International Limited, Colliers Jardine and Gulliver’s Travels will be invaluable in stabilising the company during troubled times.

Mr Cotterill, who is currently a non-executive director, takes over from Dudley Enoka who oversaw the company through its sale Telecom sale. Mr Enoka will remain as a non-executive director.

Mr Smith said Yellow was fortunate to have someone of Bruce Cotterill's quality to maintain the momentum.
 
"Bruce has an outstanding track record as a CEO and director, has considerable media expertise through his involvement with ACP Media and has strong insights into Yellow as an existing non-executive director. He will be an admirable replacement."