26th Sep 2019 15:21
(Alliance News) - Pendragon PLC on Thursday said Non-Executive Director & Senior Independent Director Richard Laxer has decided to step down at the end of 2019.
Laxer has confirmed, however, that in the interim period, he will continue to fulfil his roles of senior independent director and Audit Committee chair for the remainder of the year.
Pendragon will now start the process for the recruitment of an additional non-executive director to join the board in January 2020 following Laxer's departure.
"The board would like to thank Richard Laxer for his significant contribution during his tenure. We look forward to continuing to work with him for the remainder of his time with us and wish him every success in his future endeavours," said Incoming Executive Chair Bill Berman.
Non-Executive Chair Chris Chambers will leave Pendragon on Tuesday next week after six years at the firm. Berman, a non-executive director and former operating chief of American car retailer AutoNation, will become executive chair on an interim basis.
Pendragon shares were trading 0.6% lower on Thursday in London at 9.42 pence each.
By Evelina Grecenko; [email protected]
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