Board changes

RNS Number : 8241J

Auto Trader Group plc

03 July 2017

 

AUTO TRADER GROUP PLC

BOARD CHANGES

Auto Trader Group plc (LSE: AUTO, "Auto Trader" or the "Company"), the UK's largest digital automotive marketplace, announces that Sean Glithero, Chief Financial Officer ("CFO") has informed the Board of his intention to step down from his position as CFO and as a director and take a new role at Funding Circle.  Sean will therefore not be standing for re-election at the Annual General Meeting to be held on 21 September 2017.

The Board has appointed Nathan Coe as Sean's successor. Nathan joined Auto Trader in 2007 and has been instrumental in the company's transition from a magazine business to a digital company, responsible for launching a number of new business areas and for Auto Trader's early entry and subsequent growth in mobile and online. Prior to joining Auto Trader, Nathan was a corporate finance professional at both PwC and Telstra, Australia's largest telecommunications company and holds a Bachelor of Commerce with honours in finance and economics. Nathan will combine the role of CFO with his existing responsibilities as Chief Operating Officer.

Sean will remain in his role to ensure a smooth transition of his responsibilities, with a handover date to be mutually agreed between the Company and Sean.

Ed Williams, Chairman of Auto Trader, said:

"We would like to thank Sean for his significant contribution to the success of Auto Trader.  In his immensely capable hands, Auto Trader has succeeded in its transformation from a print to a purely digital business and from private ownership to a listed UK plc. The focused nature of the business and the quality of the team he has built around him allows us to combine many of the finance and operational aspects of our business.

"In Nathan we have the depth of knowledge and experience that comes from a decade in the business, in addition to substantial corporate financial experience.

"The Board congratulates Nathan on his appointment and thanks Sean for his contribution over the last eleven years, wishing him well as he embarks on his new role."

The following information is provided in accordance with section 430 2(B) of the Companies Act 2006:

Sean will not be entitled to any payments or benefits beyond his departure date and all his long-term incentives and deferred bonus shares will lapse as set out in the scheme rules.

Enquiries: 

Powerscourt [e-mail]

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About Auto Trader

Auto Trader Group plc is the UK and Ireland's largest digital automotive marketplace. Auto Trader sits at the heart of the UK's vehicle buying process and its primary activity is to help vehicle retailers compete effectively on the marketplace in order to sell more vehicles, faster. Auto Trader listed on the London Stock Exchange in March 2015 and is now a member of the FTSE 250 Index.

The marketplace brings together the largest and most engaged consumer audience. Auto Trader has over 90% prompted brand awareness and attracts circa 60 million monthly cross platform visits each month, with over 70% of visits coming through mobile devices.

The marketplace also has the largest pool of vehicle sellers (listing around 450,000 cars each day). Over 80% of UK automotive retailers advertise on autotrader.co.uk.

For more information, please visit http://about-us.autotrader.co.uk

 

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