Vertu Regulatory News (VTU)

22 July 2019

Vertu Motors plc

("Vertu Motors", the "Company" or the "Group")

Andy Goss appointed Non-Executive Chairman

Vertu Motors (AIM: VTU), the automotive retailer with a network of 123 sales and aftersales outlets across the UK, is pleased to announce the appointment of Andy Goss as Non-Executive Chairman, with effect from 25 July 2019.

Andy, who is currently a Non-Executive Director and has been on the Board since 3 September 2018 has been appointed following an extensive recruitment process. Andy has considerable experience in the automotive sector including senior roles for JLR, Porsche and Toyota. Prior to joining Vertu, Andy was Group Sales Director and a member of the board for Jaguar Land Rover.

Andy replaces Peter Jones who announced his intention to retire from the Board earlier this year. The Board would like to thank Peter for his service and contribution to the Group during his time as Chairman.

Andy Goss commented:

"I am very excited to be leading the Board in what promises to be a fascinating period in the sector in the next few years. With its strong balance sheet, best in class systems and processes and strong and stable management team, Vertu is well positioned to benefit from the challenges and opportunities in the motor retail market. I look forward to supporting the Group to continue to strengthen its relationships with its manufacturer partners. Following my appointment and Peter's departure, I will keep the board structure under review. I have known Peter for many years and his retirement marks the end of over 40 years in the sector. He has left his positive mark on both the automotive plcs he has led and the people he has encountered."

Peter Jones commented:

"Having had over 4 years as Chairman of the Group, I am delighted with this appointment and am confident that Andy's insight and energy will provide great leadership to the Board alongside Robert and the team. I am leaving the Board in good hands."

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Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 123 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell and Macklin Motors brand names.

Vertu Motors was established in November 2006 with the strategy to consolidate the UK motor retail sector. It is intended that the Group will continue to acquire motor retail operations to grow a scaled dealership group. The Group's acquisition strategy is supplemented by a focused organic growth strategy to drive operational efficiencies through its national dealership network. The Group currently operates 120 franchised sales outlets and 3 non-franchised sales operations from 104 locations across the UK.

Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust". 

Vertu Motors Group websites - www.vertumotors.com / www.vertucareers.com

Vertu brand websites - www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.farnelllandrover.com / www.farnelljaguar.com / www.vertuvolkswagen.com / www.vertumercedes-benz.com