Lookers chair to stand for re-election
The search for a new chairman continues for car dealership group Lookers.
The board has asked current chair Phil White to remain on the board as a new chair is appointed and to ensure an orderly handover.
In a stock market update, the group also announced Anna Bielby has agreed to extend her term as interim chief financial officer.
The Altrincham-based motor retail-and-aftersales service group said Ms Bielby will leave the group at the end of July following the conclusion of a number of key projects.
The group also revealed a date for its AGM to be held on 30 June when it will announce its full year financials.
Lookers recently said it expects its annual underlying profit before tax for 2021 to comfortably exceed current market consensus, of £34m.
It has also completed the renewal of its bank facility with its existing banking club. The revolving credit facility now run until September 30, 2023, and is for an initial amount of £150m. The group’s net debt is currently circa £4m.
Lookers said, building on the momentum of the first quarter of 2021, trading across the group has been strong since the reopening of its dealerships on April 12.
