– UK, North Gateshead – Vertu Motors plc, the UK automotive retailer which has a proven growth strategy, is pleased to announce that, with effect from 1 June 2015, Kenneth Lever will join the Board as a Non-executive Director.
Ken brings a wealth of City, technology and finance experience to the Group. He is an ex-partner of Arthur Andersen and has held senior executive director roles in many listed companies including Alfred McAlpine plc, Albright & Wilson plc and Tomkins plc. Ken was CFO of Numonyx in Switzerland from April 2008 to September 2010, and has been CEO of Xchanging plc since June 2011. Ken is a non-executive director of FM International. From 2007 to 2013, Ken was a Member of the Accounting Council of the Financial Reporting Council.
David Forbes, who has been a Non-executive Director of Vertu for the last six years, will resign and not seek re-election at Vertu’s Annual General Meeting on 23 July 2015.
Peter Jones, Chairman of Vertu, said: “I am delighted Ken has agreed to join Vertu as a non-executive director. His wide-ranging experience in listed companies has given him real insight and expertise in the generation of shareholder value and our Board believe he will add considerable value as the Group moves into another exciting growth phase.”
“I would like to take this opportunity to thank David Forbes for his support to the Group over the last six years. David has been on the Board during a transformation in the scale of the Group and has been invaluable in this phase of the Group’s growth.”
Ken Lever said: “I am pleased to be joining the Board of Vertu at this important stage in its development. I am very much looking forward to working with the Board to help deliver further growth in shareholder value.”
About Vertu Motors
Vertu Motors, the UK automotive retailer with a proven growth strategy, is the sixth largest automotive retailer in the UK with a network of 116 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell and Macklin Motors brand names.
Vertu Motors was established in November 2006 with the strategy to consolidate the UK motor retail sector. It is intended that the Group will continue to acquire motor retail operations to grow a scaled dealership group. The Group’s acquisition strategy is supplemented by a focused organic growth strategy to drive operational efficiencies through its national dealership network. The Group currently operates 114 franchised sales outlets and 2 non-franchised sales operations from 96 locations across the UK.
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