Directorate Change

RNS Number : 8958E

Vertu Motors PLC

04 January 2010

 



4th January 2010    

Vertu Motors plc ("Vertu" or the "Group")

Appointment of Finance Director

Vertu Motors plc, the 9th largest UK motor retailer, is pleased to announce the appointment of Michael Sherwin as Finance Director.  This Board appointment will be effective as of 25th February 2010.  Upon his arrival he will replace Karen Anderson, who will cease to be a director of Vertu Motors and will become Company Secretary of the Group from the same date.

Michael, aged 50, has extensive retail, transactional and public market experience. From 1999 to 2008, Michael was Group Finance Director of Games Workshop Group PLC, a FTSE listed consumer goods company.  As an executive director, Michael led a restructuring programme and developed the finance function.

Michael joins Vertu from Courtaulds (UK) Limited, a private UK based clothing supplier, where he has been Finance Director since May 2009 and has overseen the successful restructuring and refinancing of the business. 

Michael is a qualified Chartered Accountant having trained with Price Waterhouse, where he held positions in the UK, Paris and Sydney. He was also Non-Executive Director of Plusnet plc, an AIM listed internet business, from 2004-2007.

Paul Williams, Chairman of Vertu Motors said:

"Michael is an exceptional candidate for this role and has extensive knowledge and skills to bring to the Group. We are particularly impressed by his experience of working in growing listed businesses.  We know that he will be a key member of the team as we drive the scalability and growth prospects while consolidating our position as a leading UK motor retail group."

Save as disclosed at the end of this announcement, there is no further information required to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules.

- Ends -

For further information please contact:

Vertu Motors plc
Robert Forrester, CEO	Tel: [phone]
Brewin Dolphin Investment Banking
Andrew Kitchingman	Tel: [phone]
Sean Wyndham-Quin
Panmure Gordon (UK) Limited
Andrew Burnett	Tel: [phone]
Stuart Gledhill
Financial Dynamics
Caroline Stewart	Tel: [phone]
Edward Westropp

Notes to editors

Vertu Motors is the 9th largest motor retailer in the United Kingdom with 58 dealerships forming a national network across England, operating under the Bristol Street Motors and Bristol Street Motor Nation brand names. Manufacturer partners are Citroen, Ford, Iveco, Honda, Hyundai, Mazda, Peugeot, Renault, Vauxhall, Chevrolet, Fiat and SEAT. 

Vertu Motors was established in November 2006 with the aim of consolidating the UK motor retail sector. The Group listed on AIM in December 2006. In March 2007, the Group acquired the 13th largest motor retailer in the United Kingdom, Bristol Street Motors. 

The Group currently operates 54 franchised sales outlets, 4 non-franchised sales operations and 2 stand alone service operations from 50 locations. 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 the national network.

www.vertumotors.com 

www.bristolstreet.co.uk

www.vertuhonda.com

www.motornation.co.uk

Michael Sherwin - Information required under Schedule Two, paragraph (g) of the AIM Rules

Current directorships/partnerships:

Nottingham High School

Other directorships held in the past five years:

Games Workshop Group plc

Games Workshop International Limited

Citadel Miniatures Limited

Flame Publications Limited

G.W. Books Limited

G.W.P.B.M. Limited

Games Workshop Deutschland Limited

Games Workshop Limited

Games Workshop Plastics Limited

Games Workshop Publications Limited

Games Workshop Tooling Limited

Games Workshop Trustee Limited

Marauder Miniatures Limited

Warhammer Historical Wargames Limited

Warhammer Music Limited

Warhammer Records Limited

Games Workshop Retail Limited

Warhammer Online Limited

Games Workshop Interactive Limited

Games Workshop US (Holdings) Limited

Plusnet plc

Plusnet EBT Limited

 

END

 

 

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