Last checked at 6 Feb 2020 07:00
6 February 2020
AUTO TRADER GROUP PLC
UPDATE ON PREVIOUSLY ANNOUNCED BOARD CHANGES
Auto Trader Group PLC (LSE: AUTO, "Auto Trader" or the "Company"), the UK's largest digital automotive marketplace, provides an update on the Board changes previously announced on 29 April 2019.
The transition to the new executive team has progressed well and, as a result, the Board has now agreed an earlier handover date. Trevor Mather, Chief Executive Officer ("CEO") will now retire on 29 February 2020 (rather than 31 March 2020) and Nathan Coe (currently the Company's Chief Financial Officer ("CFO") and CEO-designate) will be appointed as CEO with effect from 1 March 2020. Furthermore, the Board is pleased to announce that Jamie Warner, who is currently Auto Trader's CFO-designate, will join the Board with effect from 1 March 2020 as CFO.
There are no disclosures required in respect of the appointment of Jamie Warner under paragraph 9.6.13 of the Listing Rules of the Financial Conduct Authority.
Auto Trader will report on its full year results for the financial year ending on 31 March 2020 on 4 June 2020.
To view the team's biographies, please visit https://plc.autotrader.co.uk/who-we-are/the-teams/
Media Enquiries:
Powerscourt ++44 (0)20 7250 1446
autotrader@powerscourt-group.com
Remuneration arrangements
Trevor Mather's remuneration arrangements as set out in the announcement on 29 April 2019 remain largely unchanged, save that salary, pension, benefits will be paid up to the new retirement date of 29 February 2020; Annual Bonus and Performance Share Plans will be pro-rated for time elapsed to the new retirement date. Full details will be included in the 2020 Annual Report which will be published in June 2020, and a statement will be made in accordance with section 430 2(B) of the Companies Act 2006 in due course.
Nathan Coe and Jamie Warner's service contracts, remuneration and benefits will be consistent with Auto Trader's Directors' Remuneration Policy as approved by shareholders at the 2018 AGM, and the details of their remuneration packages will be included in the 2020 Annual Report which will be published in June 2020.
About Auto Trader
Auto Trader Group plc is the UK and Ireland's largest digital automotive marketplace. Auto Trader sits at the heart of the UK's vehicle buying process and its primary activity is to help vehicle retailers compete effectively on the marketplace in order to sell more vehicles, faster. Auto Trader listed on the London Stock Exchange in March 2015 and is now a member of the FTSE 100 Index.
The marketplace brings together the largest and most engaged consumer audience. Auto Trader has over 90% prompted brand awareness and attracts circa 50 million monthly cross platform visits each month, with over 70% of visits coming through mobile devices.
The marketplace also has the largest pool of vehicle sellers (listing around 450,000 cars each day). Around 80% of UK automotive retailers advertise on autotrader.co.uk.
For more information, please visit https://plc.autotrader.co.uk/