Pendragon PLC Directorate Change (5743D)
27 Junio 2019 - 1:01AM
UK Regulatory
TIDMPDG
RNS Number : 5743D
Pendragon PLC
27 June 2019
Pendragon PLC ("Pendragon" or the "Company")
Directorate Change
Pendragon PLC ("the Company") today announces that Mark Herbert
will be leaving the Company by mutual agreement with effect from 30
June 2019. Accordingly, Mr. Herbert will cease to be Chief
Executive Officer and a Director of the Company with effect from 30
June 2019.
The Company has commenced a formal process to recruit and
appoint a new Chief Executive Officer and a further announcement
will be made in due course.
Until such an appointment is concluded, Executive Directors
Martin Casha (Chief Operating Officer) and Mark Willis, (Chief
Financial Officer) will lead the business on a day to day basis,
reporting to Chris Chambers, the Chairman.
As a result of the change to the management team, it is
envisaged that the strategic update originally scheduled for late
September will now be postponed until the appointment of a new
Chief Executive Officer is concluded.
Chris Chambers, Chairman of Pendragon PLC said:
"The Board remains fully committed to realising the long-term
strategy. In the nearer term, despite challenging market conditions
and the costly stock reduction programme, our focus will remain on
taking steps to improve the performance of the business as outlined
in our recent Financial and Operational Review."
Enquiries
Howard Lee Headland 0203 805 4822
Henry Wallers Headland 0203 805 4822
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END
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