Auto Trader Group plc Update on Previously Announced Board Changes (1205C)
06 Febbraio 2020 - 8:01AM
UK Regulatory
TIDMAUTO
RNS Number : 1205C
Auto Trader Group plc
06 February 2020
6 February 2020
AUTO TRADER GROUP PLC
UPDATE ON PREVIOUSLY ANNOUNCED BOARD CHANGES
Auto Trader Group PLC (LSE: AUTO, "Auto Trader" or the
"Company"), the UK's largest digital automotive marketplace,
provides an update on the Board changes previously announced on 29
April 2019.
The transition to the new executive team has progressed well
and, as a result, the Board has now agreed an earlier handover
date. Trevor Mather, Chief Executive Officer ("CEO") will now
retire on 29 February 2020 (rather than 31 March 2020) and Nathan
Coe (currently the Company's Chief Financial Officer ("CFO") and
CEO-designate) will be appointed as CEO with effect from 1 March
2020. Furthermore, the Board is pleased to announce that Jamie
Warner, who is currently Auto Trader's CFO-designate, will join the
Board with effect from 1 March 2020 as CFO.
There are no disclosures required in respect of the appointment
of Jamie Warner under paragraph 9.6.13 of the Listing Rules of the
Financial Conduct Authority.
Auto Trader will report on its full year results for the
financial year ending on 31 March 2020 on 4 June 2020.
To view the team's biographies, please visit
https://plc.autotrader.co.uk/who-we-are/the-teams/
Media Enquiries:
Powerscourt ++44 (0)20 7250 1446
autotrader@powerscourt-group.com
Remuneration arrangements
Trevor Mather's remuneration arrangements as set out in the
announcement on 29 April 2019 remain largely unchanged, save that
salary, pension, benefits will be paid up to the new retirement
date of 29 February 2020; Annual Bonus and Performance Share Plans
will be pro-rated for time elapsed to the new retirement date. Full
details will be included in the 2020 Annual Report which will be
published in June 2020, and a statement will be made in accordance
with section 430 2(B) of the Companies Act 2006 in due course.
Nathan Coe and Jamie Warner's service contracts, remuneration
and benefits will be consistent with Auto Trader's Directors'
Remuneration Policy as approved by shareholders at the 2018 AGM,
and the details of their remuneration packages will be included in
the 2020 Annual Report which will be published in June 2020.
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 100
Index.
The marketplace brings together the largest and most engaged
consumer audience. Auto Trader has over 90% prompted brand
awareness and attracts circa 50 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). Around 80% of UK automotive
retailers advertise on autotrader.co.uk.
For more information, please visit
https://plc.autotrader.co.uk/
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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