Car giant’s FD steps down

Pendragon, the Nottingham car dealership giant, has revealed that its FD is standing down.

Tim Holden will leave the company on 31 March 2019 after 11 years, and 10 years on the Board as finance director, to “pursue other interests”.

The news comes a week after Pendragon had £30m knocked off its market value after investors changed lanes following a profit warning.

Chief executive Trevor Finn said: “I would like to thank Tim for his important contribution to the growth and robust financial health of the company during the time he has been with us, initially as financial controller and for the last ten years on the Board as finance director. We wish him all the best for his future plans.”

Mark Willis will be joining Pendragon as its finance director. He joins from Ten Entertainment Group where he has been CFO since taking it through its IPO in April 2017. Prior to this he worked at Home Retail Group, including roles as Argos finance director, director of group finance and investor relations director.

Finn said: “Mark brings a breadth of financial and commercial experience combined with strategic and operational expertise, and is ideally suited to take Pendragon through the next phase of its transformation.”