Pendragon PLC ("Pendragon" or the "Company")
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."
0203 805 4822
0203 805 4822
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
Quick facts: Pendragon Group
Market Cap: £149.75 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE