Marshall Motor Holdings PLC Directorate Change (3452T)

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RNS Number : 3452T

Marshall Motor Holdings PLC

03 July 2018

3 July 2018

MARSHALL MOTOR HOLDINGS PLC

("MMH" or the "Group")

Directorate Change

Marshall Motor Holdings Plc announces that Mark Raban, Chief Financial Officer, has today notified the Board of his intention to step down from his position.

Mark joined MMH in 2014 and has played an integral role in both the Group's successful IPO and its subsequent strong period of growth during which revenue and profit before tax have doubled.

The Board has commenced a process to find a successor. Mark will remain with the Company until an appointment is made and help ensure a smooth transition. Further information on the terms and timing of his departure will be provided in due course.

Mark Raban, Chief Financial Officer, said

"It has been a great pleasure and privilege to be involved in the Group's recent transformational development. The Group remains very well positioned for the next strategic growth phase, underpinned by a strong balance sheet. From a personal perspective, I feel the time is now right for me to explore new opportunities. I would like to thank both the Board and entire MMH team for their support and I wish them well for the future."

Peter Johnson, Chairman, said

"On behalf of the Board, I would like to thank Mark for his valuable contribution to the success of the Group over the past four years. We will be sorry to see Mark leave but we wish him well for the future."

Daksh Gupta, Chief Executive Officer, said

"I would like to personally thank Mark for his support and being an invaluable part of the management team since 2014. I wish him all the very best for the future."

This statement contains inside information.

ENDS

For further information and enquiries please contact:

 
  Marshall Motor Holdings plc 
  Daksh Gupta, Group Chief Executive     Tel: [phone] 
  Mark Raban, Chief Financial Officer 
 
 
 
    Investec Bank plc (NOMAD & Broker)     Tel: [phone] 
  Christopher Baird 
  David Flin 
  David Anderson 
 
 
 
    Hudson Sandler                         Tel: [phone] 
  Nick Lyon 
  Bertie Berger 
 

About Marshall Motor Holdings plc (www.mmhplc.com)

The Group's principal activities are the sale and repair of new and used vehicles through Marshall Motor Group. The Group's businesses have a total of 101 franchises covering 23 brands, operating from 84 locations across 26 counties in England. In addition, the Group operates five trade parts specialists, three used car centres, five standalone body shops and one pre delivery inspection centre.

In April 2018 the Group was recognised by the Great Place to Work Institute, being ranked the 21st best place to work in the UK (large company category). This was the eighth year in succession that the Group has achieved Great Place to Work status.

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END

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July 03, 2018 02:01 ET (06:01 GMT)