Pendragon PLC
(“The
Company”)
Appointment and
Resignation of Independent Non-Executive Directors
The Company is pleased to announce that Mr William Berman has been appointed as an
independent non-executive director, to take office on 18 April
2019. Mr Berman will serve on the Company’s Nomination
Committee, Remuneration Committee and Audit Committee.
Mr Berman joins following an extensive executive career with
AutoNation, the largest automotive retailer in America, where most
recently he served as President and Chief Operating Officer.
Mr Berman was responsible for AutoNation’s 26,000 associates and
the operational performance of the company’s 300+ new vehicle
franchises, including new and used vehicle sales. Mr Berman’s
previous roles at AutoNation included Executive Vice President,
Regional President Western Region and Market President Northern
California.
Welcoming Bill Berman to the
Board, Pendragon’s Chairman, Chris
Chambers said: “I am really pleased that Bill has agreed to
join our Board. His significant and extensive experience in
automotive retail makes him an ideal addition to our board as we
continue our own transformation and progress towards achieving our
strategic objectives”.
Given that Mr Berman’s agreement to join the Board comes when
the notice of the Company’s 2019 Annual General Meeting (“AGM”) has
already been circulated to shareholders, and is so soon before the
AGM, the Board does not consider it appropriate to put forward a
resolution to re-appoint Mr Berman at the 2019 AGM. Instead,
Mr Berman’s appointment will lapse at the 2019 AGM, and he will be
re-appointed by the Board immediately following the 2019 AGM, with
a resolution proposing his re-appointment being proposed to
shareholders at the 2020 AGM.
The Company further announces that Ms Gillian Kent will be standing down as a
non-executive director on 18 April
2019, in order to pursue other interests.
Pendragon’s Chairman, Chris
Chambers commented, “I would like to thank Gillian for her
significant contribution since joining the Board. The Board
wish her well in her chosen future activities”.
Consequently, the Board intends to withdraw resolution number 7
set out in the notice of meeting dated 21
March 2019 relating to the re-election of Gillian Kent as a director. The remaining
resolutions set out in the notice will be put to shareholders at
the AGM to be held on 25 April 2019,
with the results being announced following the conclusion of the
meeting. The withdrawal of resolution 7 does not affect the
validity of any proxy votes already submitted.
There is no information in the nature of that required by LR
9.6.13R to disclose in relation to Mr Berman’s appointment to the
Board.
Enquiries:
Chris Chambers Non-executive
Chairman Pendragon PLC 01623 725 119
Richard Maloney Company
Secretary Pendragon
PLC 01623 725 119
Howard
Lee
Headland
0203 805 4822
Henry
Wallers
Headland
0203 805 4822