3 February 2020
This announcement contains inside information
Stefan Bomhard to step down as Group CEO of Inchcape plc
Inchcape plc, ("Inchcape" or the "Group") announces that Stefan Bomhard, who joined the Group as CEO in 2015, has resigned from the company to take up a position as CEO at Imperial Brands plc. The Board will now commence a succession process and Stefan's departure date will be announced in due course.
Nigel Stein, Group Chairman said: "On behalf of myself, the Board and all our colleagues at Inchcape, I would like to thank Stefan for his transformational leadership of this company. The Ignite strategy he implemented has substantially refocused and grown the Group's activities towards a more profitable Distribution-weighted business model. In order to achieve these significant developments and enhance Inchcape's organisational strength, Stefan has developed and empowered a strong management team that will continue to drive the business forward following his departure. We are grateful to Stefan and wish him continued success for the future".
Stefan Bomhard, Group CEO said: "It has been a privilege to lead such a high-quality organisation in an exciting and dynamic sector. I would like to thank the strong team that I have had the pleasure of working with. I know that Inchcape will continue to go from strength to strength. I leave Inchcape with my gratitude to our partners and shareholders who have supported Inchcape through my time with the business."
The Group will announce its full year results on Thursday 27 February.
Investor Relations, Inchcape plc
+44 (0) 20 7546 0022
Instinctif (Mark Garraway)
+44 (0) 20 7457 2020
Inchcape plc is the leading independent multi-brand Automotive Distributor and Retailer, operating in 33 markets with a portfolio of over 40 of the world's leading car brands. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance. The Company has been listed on the London Stock Exchange since 1958, is headquartered in London and employs around 18,700 people. www.inchcape.com
The company will comply with its obligation under section 430 (2b) of the Companies Act. Further details will be available on www.inchcape.com