David Scott retires from the business, with Simon Foulkes taking up the reins as new owner and managing director.
Costume character company, Rainbow Productions has today (Monday June 1) confirmed that current md David Scott is retiring from the business.
Simon Foulkes, the company’s sales and marketing director, is taking up the reins as the new owner and managing director.
“I am enormously proud of Rainbow’s achievements in my time at the company and am grateful to all our staff for their loyalty, support and willingness to do whatever is necessary to deliver top quality results for all our licensors and clients,” commented David (pictured (right) with Simon and Wenlock and Mandeville, the London 2012 Olympic and Paralympic Games mascots).
“However, I’m not getting any younger and I have been looking to step back from the front-line for quite some time and so discussions between Simon and I have been going on for many months. The final arrangements were agreed and due to be announced when the coronavirus situation escalated and the lockdown happened.
“We have since reviewed the situation and have agreed to proceed with the move nevertheless. Simon unquestionably has the energy and vision to drive the business forward and take advantage of the opportunities that will arise as the global economy opens up.”
Simon – who has been with Rainbow Productions for over 25 years – continued: “David is an exceptional business leader and under his watch Rainbow has developed an established global reputation becoming one of the most admired costume character companies in the world.
“David has always put our clients at the heart of our strategy and I, and the exceptional team at Rainbow, look forward to building upon this philosophy. David is a well-respected colleague, mentor and friend to many within the licensing community and there can be few people who have had such an impact on our industry.”
Simon added: “This was confirmed when he was honoured with the Honorary Achievement Award [at The Licensing Awards in 2014] and I am sure there are a great many people who treasure memories of time spent with this remarkable man.
“It has been a great pleasure to work with David for over a quarter of a century and it is an honour to succeed him. I am delighted that he has confirmed that he will stay close to the Rainbow business for as long as is necessary to ensure an absolutely seamless transition.”
David will continue to serve as a trustee and treasurer of industry charity, The Light Fund.
He commented: “I may be stepping back from the day to day business, but I love the licensing industry and I’m not going far. I look forward to seeing all my industry friends as soon as it’s permissible and, although the long round of leisurely lunches I had thought I could indulge in may have to wait, I’ll be keen to catch up as soon as circumstances allow.”