PENDRAGON PLC - Directorate Change
PR Newswire
London, November 9
Pendragon PLC
("The Company")
Appointment and Resignation of Independent Non-Executive Directors
The Company is pleased to announce that Mr Richard Laxer has been appointed as an independent non-executive director, to take office on 12 November 2018. Mr Laxer will serve on the Company's Nomination Committee, Remuneration Committee and Audit Committee and will succeed to the roles of Senior Independent Director and chair of the Company's Audit Committee.
Mr Laxer joins following an extensive executive career with the General Electric Company, where most recently he held the position of Chairman and CEO of GE Capital. Mr Laxer's previous roles at GE Capital included President and CEO of GE Capital International, President and CEO of GE Capital Europe, Middle East and Africa. In addition to his roles at General Electric, Mr Laxer also has extensive board experience, being a former non-executive director serving on the boards of a number of major European based banks.
Welcoming Richard Laxer to the board, Pendragon's Chairman, Chris Chambers said: "I am really pleased that Richard has agreed to join our Board. His significant and extensive experience in delivering the successful transformation of a portfolio of complex financial services businesses is an ideal addition to our board as we continue our own transformation and progress towards achieving our strategic objectives".
The Company further announces that Mr Jeremy King will be standing down as a non-executive director, including his roles as Senior Independent Director and chair of the Company's Audit Committee on 12 November 2018, in order to pursue other interests.
Pendragon's Chairman, Chris Chambers commented "I would like to thank Jeremy for his significant contribution since joining the Board, and in particular his sound guidance and oversight as chair of the Audit Committee. The Board wish him well in his chosen future activities".
The Company confirms that the process for the recruitment of additional independent non-executive directors is underway.
Enquiries:
Pendragon PLC Chris Chambers Non-executive Chairman
Tel: 01623 725 114
Finsbury Gordon Simpson Tel: 0207 251 3801
Philip Walters
