Inchcape Regulatory News (INCH)

Inchcape plc

Appointment of Chief Financial Officer

Inchcape plc ("Inchcape" or the "Group") announces that Gijsbert de Zoeten will join the Group as Chief Financial Officer-designate on 27 August 2019 and will join the Board as an Executive Director and assume the full CFO role with effect from 1 September 2019. As previously announced, Richard Howes formally steps down from the Board and leaves the Group on 31 August 2019 to take up the position of CFO at Bunzl plc.

Mr de Zoeten was, until 2018, CFO at LeasePlan Corporation NV, an international fleet management and mobility services company with a turnover of €9bn and a 1.7m car fleet. Mr de Zoeten joined LeasePlan in 2016 and was integral to the significant transformation of the business, following its sale by VW Group, which included a strong focus on operational excellence. Mr de Zoeten left in late 2018 when plans to IPO the business were cancelled.

Previously, Mr de Zoeten had a successful 27-year career at Unilever plc where he had a range of senior financial and operational roles leading to his six-year position as the CFO of Unilever Europe. During his time at Unilever Mr de Zoeten gained substantial operational experience, inclusive of new business integration, across Europe and the Americas.

Additionally, Mr de Zoeten is a member of the supervisory board of Technical University Delft.

Nigel Stein, Chairman, commented:

"We are delighted that Gijsbert is joining Inchcape. He will bring a wealth of complementary experience to the Executive team and to the Board and we very much look forward to welcoming him to the Group. I would also like to wish Richard well in his new role and to thank him for his contribution over the last three years."

Stefan Bomhard, Chief Executive, commented:

"Gijsbert was the outstanding candidate and I very much look forward to working with him as we continue to build on the opportunities ahead for Inchcape. He brings extensive experience within B2B and B2C environments, a strong foundation that will support the Ignite strategy, and through LeasePlan, a knowledge in mobility services which will be beneficial as Inchcape continues to develop its capabilities in an evolving industry."

Gijsbert de Zoeten commented:

"I am delighted to be joining Inchcape. I can see the opportunities that Inchcape has before it and I look forward to working with the team to develop the business further."

There is no additional information required to be disclosed pursuant to Listing Rule 9.6.13 relating to the appointment of Gijsbert de Zoeten as a director of Inchcape plc.

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Investor Relations, Inchcape plc+44 (0) 20 7546 0022

Instinctif (Mark Garraway)

+44 (0) 20 7457 2020

The details relating to Richard Howes required by Section 430(2B) of the Companies Act 2006 can be found on www.inchcape.com..

About Inchcape

Inchcape plc is the leading independent multi-brand Automotive Distributor and Retailer, operating in 32 markets with a portfolio of over 40 of the world's leading car brands. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance. The Group has been listed on the London Stock Exchange since 1958, is headquartered in London and employs around 18,700 people. www.inchcape.com