Directorate Change

RNS Number : 0131K

Caffyns PLC

14 August 2012

 



Caffyns PLC

Directorate Change

Caffyns PLC ("Caffyns" or the "Company") today announces that Guy Ainsley, Operations Director, is to leave the Company at the end of its current financial year on 31 March 2013. Until that time, Mr Ainsley will continue to progress with the implementation of the Company's strategy of focusing on premium and premium-volume franchises and building scale.

Commenting, Simon Caffyn, Chief Executive, said:

"As we near the completion of our restructuring programme Guy has tendered his resignation and will be leaving at the end of March 2013 to further develop his career after a very successful period with Caffyns.

Over the past three years, as part of our strategy, we have disposed of surplus properties and rationalised our franchise portfolio. We have reinvested the property sale proceeds in the business, including in an enlarged flagship Land Rover dealership in Lewes, East Sussex. This process will continue with investments being made in our Audi, Skoda and Volkswagen businesses, including in new freehold dealerships, to build sales capacity, improve customer service and staff facilities.

Whilst Guy will remain with the Company until March 2013, the whole Board wishes to take the opportunity to thank him for his contribution to Caffyns."

Guy Ainsley added:

"The staff of Caffyns have excelled in the past three years in refocusing the business whilst trading profitably in a very difficult market. It's been a pleasure being part of this process and I look forward to continuing my involvement over the coming months".    

Enquiries:

Simon Caffyn Chief Executive

Mark Harrison Finance Director

Telephone: [phone]

 

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