8:18 am, June 26, 2024
Dealer group Vertu Motors has confirmed the departure of director Ken Lever, following the company’s AGM.
Lever joined the listed retailer back in 2015 and has served on the board for the last nine years as a senior independent director.
The 70-year-old, who also worked as chair of Vertu’s Audit committee, announced his intention to step down last month but the decision has now been ratified.
The move was made official at yesterday’s annual general meeting and boss Robert Forrester has paid tribute to the outgoing man.
In an announcement to the London Stock Exchange, the CEO said: ‘Ken has been an incredible non-executive director for the group contributing at all times as we undertook rapid growth over the last nine years and navigated Brexit and the Pandemic.
‘His insight and wisdom was always on display and aided the strategic direction of the group.’
The announcement is the second in as many days to come out of Vertu, following a trading update which was published yesterday (June 25).
In the update, the dealer group revealed a significant period of growth but warned of upcoming ‘volatility’ due to the controversial ZEV mandate.
A spokesman said: ‘The Zero Emission Mandate to force the uptake of zero emission vehicles sold in the UK has the potential to create volatility in the new car market.
‘This may include reduced supply of new petrol and diesel cars in the coming periods and would lead to a strengthening of petrol and diesel used car values.’
