(Alliance News) - Inchcape PLC on Thursday said Jerry Buhlmann will become its new chair, following the retirement of Nigel Stein.
The London-based automotive distributor, which has operations in 32 countries across, intends for Buhlmann to succeed Stein following the group's next annual meeting on May 9, subject to shareholder approval. Stein is to step down as the end of his 9-year board term comes to an end in 2024.
Buhlmann is currently Inchcape's senior independent director, and has over 40 years of experience in the media and advertising industries, the firm said. He is the former chief executive officer of Aegis Group PLC and Dentsu Aegis Network. He currently serves as chair of private equity-owned digital marketing agencies Dept, Croud Ltd and Hybrid, and as a member of the supervisory board of ServicePlan GmBH.
Speaking on Buhlmann's appointment, Chief Executive Officer Duncan Tait said: "Given his already valuable tenure on our Board, his appointment ensures seamless continuity of leadership as we drive forward with our accelerate strategy. He has a long track record in leading and managing large and diverse global organisations, with significant experience and knowledge of technology-enabled businesses. This will be a major asset for Inchcape, as we continue to leverage our digital capabilities to further grow and diversify our distribution business with more mobility partners in more geographies".
Inchcape will also be appointing Alison Platt as non-executive director, succeeding Buhlmann as senior independent director in May. She currently serves as chair of Dechra Pharmaceuticals PLC and Ageas UK, as well as non-executive director and chair of Tesco's remuneration committee.
Inchcape shares were up 3.2% at 699.50 pence each in London on Thursday afternoon.
By Hugh Cameron, Alliance News reporter
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