10:50 am, April 26, 2022
Carzam CEO Kirk O’Callaghan has been removed as a director of the online used car disruptor just weeks after founder Peter Waddell also stepped back.
O’Callaghan joined the rival to Cazoo and Cinch two years ago from Sytner Group’s CarShop car supermarket business.
His directorship at Carzam was terminated on April 6 and posted on the Companies House website today.
Waddell – who pumped in half of the initial £50m used to start the the business up with fellow investor John Bailey – resigned as a director on April 17.
O’Callaghan is the fourth director to step back this year.
In March, former Paddy Power chief executive Andy McCue left his post as executive chairman a little over three months into his role on March 3.
Daniel Boehm was removed as a director of Carzam on March 9.
Carzam has been approached for comment.
O’Callaghan was bought in to Carzam with a ‘wealth of automotive industry experience’ and a ‘great track record’, Waddell said at the time.
‘Our aim is to reinvent the digital journey when people are buying cars, and Kirk is central to that,’ said Waddell.
Waddell is now focussing on his Big Motoring World business which has recently received investment from venture capitalists Freshstream.
He recently snapped up SW Car Supermarkets and CEO Anton Khan joined the group as COO. The pair spoke to Car Dealer for a Live video here.
As Waddell resigned from Carzam, fellow investor Bailey resigned as a director from Big Motoring World as the two appear to be splitting their business interests.
Waddell told Car Dealer he will be maintaining his shareholding in Carzam but will not be playing an active role.
Waddell and Bailey (pictured above) started Carzam with £50m, which they invested to get the start-up off the ground.
The pair both showed Car Dealer around Waddell’s prep centre for a special Car Dealer video (above) before they launched and spoke to us on camera about their plans for the business.
Carzam has pulled out of Waddell’s Peterborough prep site where it had a head office and was preparing its cars.
What is Cazoo and will it change used car sales forever? Watch our special video investigation.
