Last checked at 23 Jan 2018 08:30
23 January 2018Inchcape plcAppointment of new Chairman
Inchcape plc ("Inchcape" or the "Group"), the leading independent multi-brand automotive distributor and retailer with global scale, announces that its Chairman, Ken Hanna, will retire at the next AGM on 24 May 2018. Ken has been Chairman for nine years and has been a member of the Board since 2001.
Nigel Stein will succeed Ken as Chairman. Nigel has been a Non-Executive Director of Inchcape plc since October 2015. He is currently also Industry Chair of the UK's Automotive Council.
Nigel Northridge, Inchcape's Senior Independent Director said:
"On behalf of the Board, I would like to thank Ken for his long service and great contribution to Inchcape. His leadership steered the Group through the global financial crisis and he has played a critical role in the development of the Group's strategy over the last decade.
"We are delighted to confirm the appointment of Nigel Stein as Chairman with effect from the AGM in May 2018. Nigel has held a range of general management and finance roles and has significant experience of the global automotive industry."
Ken Hanna, Chairman, commented:
"It has been a privilege to have been the Chairman of Inchcape plc over the past nine years. It is a company that has a proven track record of delivering success and I am confident that the right leadership is in place to continue to grow and strengthen the business. I wish everyone at Inchcape all the very best for the future."
Commenting on his appointment, Nigel Stein said:
"I am very pleased to be asked to become the Chairman and my time as a Non-Executive Director has given me the opportunity to develop a good understanding of the Group, its strategy and future market trends. I look forward to working with Ken, Stefan and the Board over the coming months to ensure a smooth and comprehensive handover."
In relation to the above changes to the Board, no further information is required to be disclosed pursuant to LR 9.6.11R.
Enquiries:
Inchcape plc | |
Group Communications | +44 (0) 20 7546 0022 |
Investor Relations | +44 (0) 20 7546 8225 |
Instinctif Partners Mark Garraway Helen Tarbet James Gray inchcapeccm@instinctif.com | +44 (0) 20 7457 2020 +44 (0) 7771 860 938 +44 (0) 7825 609 737 +44 (0) 7583 936 031 |
Notes to Editors:
Nigel Stein Biography
Nigel joined GKN in 1994 and held a range of commercial, general management and finance roles, including Group Finance Director and Chief Executive Automotive, before becoming Chief Executive in January 2012. Prior to GKN, he gained experience in the commercial vehicle and manufacturing sector and held senior financial positions with Laird Group plc and other UK companies. Nigel is a member of the Institute of Chartered Accountants of Scotland. He announced his retirement from GKN in September 2017.