Announcement re Chairman

RNS Number : 0239L

Pendragon PLC

29 April 2010

 



29 April 2010

Pendragon PLC ("Pendragon")

Announcement regarding Chairman

Pendragon makes the following announcement concerning Sir Nigel Rudd, which is being simultaneously announced at the Annual General Meeting of the Company being held today.

Over 20 years ago, Pendragon was introduced to the London Stock Exchange following its demerger from Williams Holdings Plc, and Sir Nigel was appointed Chairman.  Announcing his intention to step down from the Board later in the year, Sir Nigel said:

"I have been considering my retirement from the Board for some time, but the financial turmoil and difficult trading conditions of the last two years had deemed it inappropriate to leave the Company.  The trading position of the Company has now improved to such an extent that I feel it is now appropriate for me to stand down from the Board of Pendragon later this year. Steps are under way to find my successor as Chairman. I anticipate that this process will be concluded later in the year, at which point I will step down and a further announcement will be made.  This Annual General Meeting will therefore be my last.

Over my years as Chairman, it has been my great pleasure to oversee the growth and development of the Company, and it is with a sense of some satisfaction that I am able to say that today the Group remains the UK's largest motor dealer group, with our Stratstone and Evans Halshaw brands."

29 April 2010

-ENDS-

Enquiries:

Pendragon PLC            Trevor Finn, Chief Executive                                         01623 725114

Finsbury                       Rollo Head/ Gordon Simpson                                        0207 251 3801

 

END

 

 

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