Automotive seller group Pendragon, which trades as Evans Halshaw and Stratstone, is starting the seek for a brand new chairman of the board.

The AM100 motor retailer introduced that its chairman Ian Filby has knowledgeable them he intends to step down “to pursue different pursuits”.

Filby grew to become Pendragon’s chairman lower than two years in the past in a non-executive capability, taking up the position which Pendragon chief government Invoice Berman had additionally held in an government capability.

A former DFS chief government, Filby introduced greater than 40 years of retail expertise to the board, together with a protracted profession at Boots.

Pendragon mentioned its nomination committee, led by senior unbiased director Dietmar Exler, will now begin the method to establish and appoint his successor, supported by exterior consultants.

Filby will proceed in his position till this course of is full.

Filby mentioned: “I wish to take this chance to thank my fellow board members, the management workforce and, most significantly, our associates for his or her dedication to the corporate and fervour for his or her work. 

“I’m pleased with the progress that has been made each strategically and financially by the management workforce and the steadiness that this has created. I want them each success sooner or later.”

In a quick replace forward of its annual basic assembly, Pendragon mentioned constructive buying and selling momentum has continued in Q2 and efficiency stays according to the board’s expectations.

Pendragon will present a full replace on buying and selling in July as soon as the quarter’s result’s finalised.

In April, Pendragon’s board mentioned it expects the AM100 automotive retail PLC to “comfortably outperform” its earlier expectations for 2023 after delivering a 23% rise in underlying pre-tax income throughout Q1.

Underlying PBT grew by round £4 million, to £23m, throughout the three-month interval to March 31 as robust margins had been maintained alongside a 20.1% uplift in new automotive gross sales and 14% development from its used automotive operations.

In whole, Pendragon’s Motor Division delivered an working revenue up 38.7% year-on-year to £28.3m, a buying and selling assertion printed by way of the London Inventory Alternate revealed.