Pendragon PLC ("the Company") today announces that Non-Executive Chairman Chris Chambers will step down from the Board on 1 October 2019. Subsequently, Non-Executive Director Bill Berman has agreed to assume, on an interim basis, the newly created role of Executive Chairman with effect from 1 October 2019. Bill will provide leadership and strategic direction of the Company while the process for recruitment of a new Chief Executive Officer continues and the process for the recruitment of a new Non-Executive Chairman commences.
Bill Berman joined Pendragon as a Non-Executive Director in April 2019 following an extensive career with AutoNation, the largest automotive retailer in America, where he served as President and Chief Operating Officer. Bill was responsible for AutoNation's 26,000 associates and the operational performance of the company's 300+ new vehicle franchises, including new and used vehicle sales. He has over 30 years' experience in automotive retail.
The Board would like to thank Chris Chambers for his counsel and significant contribution to the Company over the past six years. We wish him well in his future endeavours.
Outgoing Non-Executive Chairman Chris Chambers commented:
"It has been a privilege to work with my colleagues and stakeholders at Pendragon over a number of years, and I am firmly of the view that the company now needs an Executive Chairman who can dedicate the time and industry expertise that the company requires in these difficult markets."
Incoming Executive Chairman Bill Berman commented:
"Having joined the business in April, I am looking forward immensely to continuing to work with the Board and colleagues in my new role as Executive Chairman and remain confident that we can take the business forward in the execution and delivery of our long-term strategy".