8:09 am, November 30, 2022
Inchcape’s group chief financial officer was forced to step down after making a sexist remark, it has been revealed.
Car Dealer reported on Monday that Gijsbert de Zoeten had voluntarily tendered his resignation following a ‘lapse of judgment’, but no details were given about the nature of his indiscretion.
It has now been revealed that he has stood down as a result of ill-judged remarks about women at a company event for leadership in Texas.
However, a source close to the situation says that the comments ‘wouldn’t have been considered that unusual ten years ago’.
The Daily Telegraph reports that alcohol was served at the event where the alleged incident took place, but it is not known whether de Zoeten was under the influence.
It is now believed that de Zoeten, who joined Inchcape in 2019, will receive a £610,000 payout to cover his 12 month notice period.
The 56-year-old will not be paid a bonus or share award and no severance payment will be made.
The Car Dealer Top 100 firm told the London Stock Exchange on Monday morning that de Zoeten would not receive any payment for his loss of office.
Inchcape added that the decision wasn’t related to the group’s financial performance or strategic direction.
A spokesman for the company said: ‘Inchcape plc today (Monday) announces that Gijsbert de Zoeten, group chief financial officer, has voluntarily tendered his resignation, and will be standing down from the Board with immediate effect.
‘This follows an incident at a recent event where, through a lapse in judgement, he displayed personal behaviour falling short of the high standards expected of the leadership of the group.
‘His decision is unrelated to the company’s financial performance or strategic direction, including the Derco acquisition.’
Adrian Lewis, who is the current group financial controller, has been made acting group chief financial officer while a permanent successor is found.
