29th Apr 2019 08:37
LONDON (Alliance News) - Digital automotive marketplace firm Auto Trader Group PLC on Monday announced the retirement of Chief Executive Trevor Mather.
Mather will leave his position at the end of March next year.
Current Chief Operating Officer & Chief Financial Officer Nathan Coe will become CEO-designate on Wednesday this week, before taking over as CEO once Mather leaves.
Auto Trader deputy CFO Jamie Warner becomes CFO-designate on Wednesday, and will take over finance functions once Coe becomes CEO next year. He will not join the board immediately but will do so in future.
Catherine Faiers, current operations director, will become COO from Wednesday, and will join the board on that day.
Chair Ed Williams commented: "Trevor has made a phenomenal contribution to Auto Trader's success over the last six years. In addition to leading the hugely successful IPO, he has overseen a period of consistently strong financial results and shareholder returns whilst also working tirelessly to build a unique and values-led culture.
"The fact we are able to promote from within to replace him, as well as the other senior roles around him, is clear testament to the strength of the team he has developed and nurtured. We greatly appreciate everything that Trevor has done for the business, and the manner in which he has done it. We wish him the very best for the future."
"We are extremely fortunate to have such a natural and outstanding replacement for Trevor in the form of Nathan Coe," Williams continued.
"Nathan joined Auto Trader in 2007 to oversee the transition from a magazine business to being a purely digital company. He has been instrumental in shaping Auto Trader into one of the UK's leading digital businesses, and the board is confident he will be a worthy successor as CEO."
Shares were 0.7% down early on Monday at 575.60 pence each.
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