Former Paddy Power chief executive Andy McCue has left his post as executive chairman of online used car dealer Carzam just over three months after joining.
The former CEO of the Irish bookmaker joined the Carzam business after a series A fundraising round bought in £112m for the rival to Cazoo and Cinch.
However, after joining the board on November 23, an update posted to Companies House this week confirmed he had been terminated as a board member on March 7.
Carzam said Andy McCue didn’t have the time they needed him to commit to Carzam and there were no ‘untoward issues’ with him leaving the business.
CEO Kirk O’Callaghan told Car Dealer: ‘I can confirm that Andy McCue has left his role as executive chairman of the business.
‘Andy joined in November 2021 in a part-time advisory role.
‘We are grateful for his input and guidance since that time and wish him all the best for the future.’
McCue spent two years as CEO of Paddy Power between 2014 and 2016 when he oversaw a multimillion pound merger with Betfair.
After leaving the firm he worked as CEO of the Restaurant Group, where he masterminded the acquisition and integration of Wagamama to capitalise on the growth of online delivery.
Car Dealer has contacted McCue for comment.
The latest accounts for Carzam, posted at the end of last year, show the firm lost £2.5m on turnover of £3.1m in 2020.
However, the firm says it has made an ‘exceptional’ start to 2022 and that car buyers are ‘demonstrating their enthusiasm’ for the firm’s ‘online purchasing model’.
It’s also been revealed that Carzam has begun moving its used car preparation away from the Peterborough site that Car Dealer visited in the build up to the business’ launch.
The office has also been moved out of Peterborough which had a large amount of Carzam branding when we visited. You can see inside the site in our video below.
Currently a third of the used cars Carzam is selling are being prepared at the Peterborough site, owned by Carzam investor and Big Motoring World boss Peter Waddell.
Carzam said cars were now being prepared around the country at four other preparation centres.
‘Peter needs the capacity for his growing business, there’s been no fall out,’ said Carzam.
Waddell has stepped away from the day to day running of the Carzam business and told Car Dealer this happened ‘five months ago’.
In October last year, Waddell snapped up SW Car Supermarket and its founder Anton Khan joined his business.
Waddell said he would be assuming the role of chairman and letting Khan take over running the business.
Since that acquisition, the former SW Car Supermarket sites in Peterborough have been rebranded to Big Motoring World.
The business has also recently unveiled a new look and new website.