12 June 2017
Motorpoint Group plc
("Motorpoint" or the "Group")
Change in Role of Director
Motorpoint Group plc, the UK's largest independent vehicle retailer, announces that the Group's Founder and Executive Director, David Shelton, will begin a phased reduction in his contracted working hours as of today, 12 June 2017.
David's working hours will reduce over the course of the 2018 financial year whereupon, on 1 April 2018, he will become a Non-Executive Director of the Group.
David remains a substantial shareholder in Motorpoint and is subject to the lock-in, relationship and service agreements outlined in the Group's IPO prospectus.
Mark Morris, Chairman, commented:
"David was the founder of Motorpoint and has been critical to its development and success. We are pleased that he wishes to remain within the business, both during his phased reduction in working hours and subsequently as a Non-Executive Director. We are glad to be able to retain David's passion, experience and knowledge which will continue to support the operational management team."
Enquiries:
Motorpoint Group plc Mark Carpenter, Chief Executive Officer James Gilmour, Chief Financial Officer |
Via FTI Consulting |
FTI Consulting (Financial PR) Jonathon Brill Alex Beagley James Styles |
020 3727 1000 |
Notes to editors
Motorpoint is the largest independent vehicle retailer in the United Kingdom. The Group's principal business is the sale of nearly-new vehicles, the majority of which are up to two years old and which have covered less than 15,000 miles. Motorpoint sells vehicles from brands representing over 95 per cent. of new vehicle sales in the United Kingdom, with models from Ford, Vauxhall, Volkswagen, Nissan, Hyundai, Audi and BMW being amongst the top sellers. The Group operates from 12 retail sites across the United Kingdom; Derby, Burnley, Glasgow, Newport, Peterborough, Chingford, Birmingham, Widnes, Birtley, Castleford, Oldbury and Sheffield, of which seven have opened in the last five years; together with a national contact-centre dealing with online enquiries.
More information is available at www.motorpointplc.com and www.motorpoint.co.uk
