£80m windfall for Auto Trader chief

AUTO Trader chief executive Trevor Mather has benefited from share windfalls totalling £80m since his appointment three years ago.

Mather, 48, has reaped the rewards of the company’s 60% increase in share price since it floated a year ago.

He joined Auto Trader when it was co-owned by Guardian Media Group and buy-out specialist Apax.

According to The Sunday Times, soon after joining Mather bought a large chunk of stock in the then private company for a “nominal sum”.

Twelve months later, GMG sold its 50.1% stake to Apax for £619m. After its continued success, Auto Trader is now on the verge of entering the FTSE 100 with a market value of £4.3bn.

Apax offloaded its remaining shares in the business after Auto Trader reported a 19% rise in underlying profits to £171m. Revenues rose 10% to £281.6m in the year to March 27, generating £177m of cash. The private equity company received £76.4m from the sale.

Mather sold 7.1 million shares worth £26.4m in April, but retains a £50m share stake.