Pendragon PLC has announced that Mel Egglenton has stepped down as Chairman and non-executive director for personal reasons, with immediate effect.
The firm confirmed Mel Egglenton’s role will be filled by Chris Chambers. Chambers has been a non-executive director at Pendragon since January 2013, and the senior independent director since November 2014.
Mel Egglenton commented, “I am pleased to have led the development of Pendragon since being appointed Chairman in May 2013 and feel that we have achieved much in a challenging retail environment. I am confident that in Chris Chambers, we have a Chairman whose skills and experience are ideally suited to the next stage of the Company’s development”.
Chris Chambers added, “Mel’s sound guidance and firm leadership have been invaluable to the development of the Company’s strategy over the past four years. I look forward to working with the Board and the executive team in the next stage of the Company’s development”.
The changes at the Pendragon board have been announced as the company updated the markets on a difficult trading period (July-September 2017), signalling an expection that underlying profit before tax will be approximately £60m, significantly lower than the £75m achieved in 2016.
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