14 Mar 2018 07:01
14 March 2018
MARSHALL MOTOR HOLDINGS PLC
Directorate change
Peter Johnson, Chairman of Marshall Motor Holdings plc ("MMH") has notified the Board that he will retire from MMH during this summer. Peter has been Chairman of MMH through and since its IPO in April 2015. In that time MMH has been transformed through the acquisition of Ridgeway and the disposal of Marshall Leasing and both revenue and profit before tax have grown by 84%.
The Board of MMH has begun a process to identify and appoint his successor.
Peter Johnson, Chairman, said
"I have greatly enjoyed being part of a team that has built a business so well positioned for the years ahead. As l approach my 50th year in the Automotive Industry l feel the time is right to pass on the baton. I am confident this Board and talented Executive Team will take the business on to even greater successes."
Daksh Gupta, Chief Executive, said
"On behalf of the Board and everyone at MMH, I would like to thank Peter for his significant contribution to the Group. I would also like to personally thank him for his invaluable support and counsel over the many years we have worked together. We wish him all the very best for the future."
Alan Ferguson, Senior Independent Director, said
"Peter has been an exemplary Chairman and has provided great leadership to the Board and the Company. His wisdom, integrity and deep knowledge of the motor trade will be greatly missed. He will leave with all our best wishes."
ENDS
For further information and enquiries please contact:
Marshall Motor Holdings plc | c/o Hudson Sandler |
Daksh Gupta, Chief Executive Officer | Tel: +44 (0) 20 7796 4133 |
Mark Raban, Chief Financial Officer
| |
Investec Bank plc (Financial Adviser, NOMAD & Broker) | Tel: +44 (0) 20 7597 5970 |
Christopher Baird | |
David Flin | |
David Anderson
| |
Hudson Sandler | Tel: +44 (0) 20 7796 4133 |
Nick Lyon | |
Bertie Berger |
Notes to Editors
About Marshall Motor Holdings plc (www.mmhplc.com)
The Group's principal activities are the sale and repair of new and used vehicles through Marshall Motor Group. The Group's businesses have a total of 101 franchises covering 23 brands, operating from 84 locations across 26 counties in England. In addition, the Group operates five trade parts specialists, three used car centres, five standalone body shops and one pre delivery inspection centre.
In May 2017 the Group was recognised by the Great Place to Work Institute, being ranked the 22nd best place to work in the UK (large company category). This was the eighth year in succession that the Group has achieved Great Place to Work status.
Cautionary statement
This announcement contains unaudited information based on management accounts and forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts and undue reliance should not be placed on any such statements because they speak only as at the date of this document and are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and the Group's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements. MMH undertakes no obligation to revise or update any forward-looking statement contained within this announcement, regardless of whether those statements are affected as a result of new information, future events or otherwise, save as required by law and regulations.