Trevor Finn to retire as PDG boss

  15 December 2018

Pendragon has announced that its founder and CEO, Trevor Finn, is to retire from the company in the new year. In a statement to shareholders issued on Friday evening, the group said Finn had “agreed to continue to perform his role as CEO for an interim period until no later than 31 March 2019 in order to facilitate an orderly transition process”.

No successor has been planned and the statement added “the company has now commenced a formal process to appoint a new Chief Executive Officer and a further announcement will be made in due course”.

Finn began his career in auto retail as a technician but was quickly talent spotted and led the company when it was spun out of Williams Holdings in 1989. It grew rapidly during the 1990s with the acquisition first of Stratstone and then Evans Halshaw; still its main trading brands.

During the 2000s it grew further, buying both the remnants of Lex Retail Group and, after a lengthy takeover battle with Lookers, Reg Vardy. The group also expanded into Germany and the west coast of the USA. The group also owns DMS supplier, Pinewood, and a contract hire business.

More recently the shine has gone off Pendragon shares. Finn has restructured the group to focus on the used car and online business but he has been forced to issue a series of profit warnings and announced the sell-off of its US division.

Rumours of a succession issue at Pendragon have been circulating for the last couple of years and it seems unlikely that an internal candidate will be appointed. It is notable that the statement was issued late on a Friday evening when it is likely to have least effect on Pendragon shares.

Chris Chambers, non-executive chairman of Pendragon, commented: “I would like to thank Trevor for all his efforts throughout a long and successful career approaching 30 years with the company. The board fully respects Trevor’s decision and wishes him well for the future”.


Start your free 14 day trial

Get free access to our Bulletin, Agenda & Profit for 14 days.

After 14 days we will auto bill your credit or debit card unless the order is cancelled.

As an auto retail executive you need insightful and unique industry intelligence to boost your business potential. Here’s a taste of what Auto Retail Network has to offer:

  • Get informed and boost your business potential
  • More than 1,200 fellow executives have joined us
    since launch
  • Independent, carefully crafted, unique content relevant to you and your business
  • Develop a greater awareness of market trends and opportunities
  • Access to a wide range of materials whenever, wherever and however you want it
  • Significant discounts on ARN events, reports and
    other publications