Directorate Change

RNS Number : 7679E

Inchcape PLC

01 October 2008

 

INCHCAPE PLC

BOARD CHANGE

Ken Hanna appointed as Non-Executive Chairman

Inchcape plc ('Inchcape' or the 'Group'), the world's leading car retailer, today announces that Ken Hanna is to be appointed Non-Executive Chairman of the Group. The appointment will take effect from Inchcape's next Annual General Meeting, to be held on 14 May 2009.

Ken has been a Non-Executive Director of Inchcape for six years. He has considerable skills and expertise with a proven track record both at an operational level and as a Non-Executive Director, as well as direct experience of operating retail businesses in emerging and developed markets.   

Ken is an Executive Director and Chief Financial Officer of Cadbury plc. Prior to this he was a Partner of Compass Partners International and Group Finance Director and Chief Executive of Dalgety (now Sygen Group plc) from 1997 to 1999. He has previous experience with Guinness plc (now Diageo plc), Avis Europe and Black & Decker and qualified as a Chartered Accountant.  At Inchcape, Ken chairs the Audit Committee and is a member of the Remuneration Committee and Nominations Committee.  He intends to step down as Chief Financial Officer of Cadbury plc prior to becoming Chairman of Inchcape.

Ken will be taking over from Peter Johnson, who announced on 15 May 2008 his intention to step down once a successor had been found.  Peter was appointed Non-Executive Chairman in January 2006 having joined the Group in 1995.  Peter and Ken will work closely together over the coming months during the handover.

Peter Johnson commented:

'The Board of Inchcape is extremely pleased that Ken has accepted the role of Non-Executive Chairman.  Following a thorough selection process of both internal and external candidates, the Board is firmly of the view that Ken is the best choice for the continued success and development of the Group.  He is well placed to provide the leadership required from a Chairman as Inchcape continues to execute on its strategy.'

Ken Hanna commented:

'I am very excited to have been offered this role and look forward to taking up the appointment in May 2009. My current position as a Non-Executive Director and Chairman of the Audit Committee gives me a unique perspective on the Company and its strategy.  I look forward to working with Peter, André and the Board over the coming months to ensure a smooth and comprehensive handover.'

- Ends -

For further information, please contact:

Group Communications, Inchcape plc

[phone]

Investor Relations, Inchcape plc

[phone]

Financial Dynamics (Jonathon Brill/Billy Clegg)

[phone]

Notes to editors

Ken Hanna

Ken Hanna, age 55 is a Chartered Accountant who started his career as an auditor with Coopers and Lybrand. His first move was into Black & Decker as group treasurer. After that he went to Max Factor as Group Financial Controller and then to Avis where he spent ten years, the last four of which were as Group Finance Director, Avis Europe plc. In 1993 he left to go to Guinness plc, where he was Group Finance Director of United Distillers plc until 1997, when he moved to Dalgety plc. After a brief period as Group Finance Director he was appointed Group Chief Executive. In 1999, he became a Partner of Compass Partners International. In 2004, Ken was appointed as Chief Financial Officer of Cadbury Schweppes plc and became Chief Financial Officer of Cadbury plc on completion of the demerger of Americas Beverages. Since 2002 Ken Hanna has also been a Non-Executive Director at Inchcape plc.

Peter Johnson

Peter Johnson, 60 was appointed Non-executive Chairman of Inchcape plc on 1 January 2006. Originally joining the Group in 1995 as Chief Executive of Inchcape Motors Retail, Peter then became Chief Executive of Inchcape Motors International (non-Toyota) in 1996. He joined the Inchcape Board in January 1998, before becoming Group Chief Executive on 1 July 1999 until 31 December 2005 and then Non-executive Chairman on 1 January 2006. He is Chairman of Rank Group plc, a Non-executive Director of Bunzl plc and Vice President of the Institute of the Motor Industry. He was previously Sales and Marketing Director of the Rover Group, and Chief Executive of the Marshall Group.

About Inchcape

Inchcape is the world's leading car retailer with a geographically diverse portfolio, operating in 25 countries with a unique and proven business model which delivers around 80% of its Group profits from international markets. The company has been listed on the London Stock Exchange since 1958 and operates both Distribution and Retail businesses, with multiple revenue streams (including sales of new and used vehicles, parts, service, finance and insurance), for the world's most successful car brands.  

The Group operates a twin-track growth strategy of Strengthening the core business through customer-centric operational excellence while Expanding within existing and emerging markets. Inchcape's Core Purpose is to create the ultimate customer experience for its brand partners.  Exceptional people are at the heart of the business, bringing this genuine Customer 1st approach alive through the Inchcape Advantage, a unique programme designed to make customers feel special everyday, every time, everywhere. The Group is headquartered in London and employs over 17,000 people worldwide. Its core markets are the UK, Singapore, Australia, Hong Kong, Greece, Belgium, Russia and China. 

For more information visit www.inchcape.com

 

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