Member Info for Valient

The only thing consistent about PDG is constant disappointment

They realise the value of their awarded options and existing stakes in the company and receive full bonuses once the deal is done

Its simply this, The CEO Berman (Previously Chairman ,) always had the motive to sell and dispose of Pendragon by whatever means.The board are not long serving members and have no allegiance to the company and therefore have the same appetite to sell. Hedin wants greater presence in the UK and tried to manoeuvre a clever albeit the Pinewood legal issue was something that could not be overcome. In mho the Lithia deal is the only credible option as an asset sale and separating out the Pinewood element. Pendragon was never a long term project for Berman and the board, which is why its being broken up and sold. The real issues here are as follows: will Lithia secure the Franchise agreements with the Manufacturers who often have first right of refusal to take the franchise back or approve the new potential owners and secondly,the premise of the Pinewood element relies on a future in North American expansion...not guaranteed. Whilst it is a very clever deal,nobody wants Pinewood given the legal issue.So the Lithia deal has to go through as the investment by them in the Pinewood piece at £10m would seem to be a goodwill cost exercise worth losing

Some of us have lost far more than that over an even longer period. The fact that the previous CEO ( T Finn) and COO Casha are out of the equation now,this may well provide a platform to revive morale and develop a healthy culture from which the company will thrive. With the "fear factor" imposed by these two now being removed, the employees can be recognised for their efforts,(albeit the current CEO is not shy at taking the money!)which should contribute much to greater results?

Or drive it into the ground like at PDG

Pendragon shareholders revolt against directors’ pay for fourth year while Bill Berman scrapes through as CEO

Pendragon PLC shareholders vote against director’s remuneration once again

CEO Bill Berman was re-elected with only 58 per cent of votes

All directors were re-elected but chairman Ian Filby stepped down ahead of the meeting the COO also just scraped through...This company desperately needs new leadership

Pendragon shareholders revolt against directors’ pay for fourth year while Bill Berman scrapes through as CEO

Pendragon PLC shareholders vote against director’s remuneration once again

CEO Bill Berman was re-elected with only 58 per cent of votes

All directors were re-elected but chairman Ian Filby stepped down ahead of the meeting and the COO also just scraped through....Nothing will happen here until the indulgent Directors are forced out and new people replace them

Probably because of their latest fantastic initiative.......
Pendragon’s CarStore agrees new partnership with world-famous Battersea animal welfare charity
CarStore partners up with leading animal welfare charity, Battersea
Deal will see staff educated on how to deal with customers who bring dogs with them......Brilliant

Again fantastic publicity Remuneration rejected....CEO barely hangs onto his job could not make this stuff up!

WELL HERES WHAT WEVE BEEN WAITING FOR! THE MAJOR BREAKTHROUGH!
Pendragon will re-launch its CarStore division with a new hybrid sales model designed to remove the “restrictive” process of traditional retail and new online rivals,
They propose to add 10 new standalone CarStore locations to offer customers access to a choice of 15,000 to 20,000 vehicles in any way they choose.
The mix of physical and digital sales processes would provide “greater choice and flexibility” than market newcomers Cazoo, cinch and Carzam. ALL DEALER GROUPS ARE DOING THIS…WHATS NEW?
“Right now customers can largely buy a used car the traditional way or the digital way. We will give customers the choice of transacting however they like,” ALL DEALER GROUPS ARE DOING THIS…WHATS NEW?
Pendragon will offer “haggle-free” fixed used car pricing, a 14-day/250-mile money-back guarantee and a 90-day warranty on all its used cars. ALL DEALER GROUPS ARE DOING THIS…WHATS NEW?

.WHATS NEW? This is the Sytner Model

The majority of CarStore sites will feature an on-site vehicle preparation centre, rather than through the “preparation factories” envisioned by Pendragon founder and former CEO Trevor Finn, with nearby franchised sites handling stock where that is not the case.
He told AM that Pendragon had previously done a “disservice” to the CarStore brand – primarily through poor stock acquisition and management – but said that the new CarStore era would see data-led decisions accompany a customer-centric philosophy to drive its success.
In setting out a strategy for the relaunch of its used car division, Pendragon completed a survey of 1,463 UK car buyers. WOW huge survey…NOT
In response to this, Pendragon has Personal Advisors which are available online, over the phone and in dealerships to guide customers through their options and the subsequent buying, selling or purchasing process. ALL DEALERS ARE DOING THIS BMW Product Geniuses as an example
This not a new proposition it’s something they tried before with the same name and it lost millions, IMHO

Unbelievable...This is the only press of late...it beggars belief... particularly when all the other Major Dealer Groups are posting positive press and developing policies to ensure employees are respected and protected for their cultures, gender and beliefs, Heads need to roll imho

Not enough positive publicity being put out by the company or any meaningful operational updates .....unlike all the other major players who are posting regular upbeat trading updates hence no movement

Hi Kev keep em peeled!

The only news we hear about this company is indulgences in remuneration for the Directors and promised land results which never materialise...maybe the Chairman ought to sit down with the CEO and devise a coherent plan....oh that's not possible because the Chairman and the CEO is one and the same man !

Pendragon puts 250 jobs at risk just weeks after bumper new pay deal agreed for boss
Pendragon places 250 of its 400 accountants in redundancy consultation
Mail on Sunday reports firm will replace jobs with new centralised roles at its Nottingham HQ
Decision comes weeks after bumper new pay deal was agreed for bosses

By Comparison ......Marshall Motor Group promises to repay furlough and retail rates cash for 2021 as it reveals buoyant first quarter results....based on having a coherent plan executing that plan recognising its workforce and maintaining its position as a company who truly cares
Marshall first dealer group to pledge to repay some furlough and rates cash
All support received in 2021 will be repaid to the government
Ahead of its AGM it reveals impressive results for lockdown-hit first quarter

AGM Tomorrow.... when we find out if the CEO and the Chairman of the remuneration Committee get voted out on the basis of their outrageous and disgraceful pay proposals for themselves...How can 1800 redundancies and £50M in Government financial support justify such a proposal...This man is more scandalous than his predecessor Finn!

Agree.. but his only motive is build to sell...and with the existing senior management in place which has been in place for decades under Finn... they lack vision and simply carry on doing what they have been doing for years ....the CEO needs to be there on a daily basis to implement change he cannot do it from the US where he is based

Not reflected in the share price after the results...making thousands redundant helps the cost base but not the cause...Urgent need of a new Management team under the CEO

This SP will not move until the New CEO realises the senior leadership which has been in place for many years needs to be changed, the company is desperate for new ideas, a new culture and needs to end its brutal management style in order to survive and attract new talent....either that or hope for a takeover imho