Davies replaces Rudd as Pendragon chairman
Mike Davies, a non-executive director of Nottingham car dealership group Pendragon, has replaced Sir Nigel Rudd as chairman of the company.
Davies is chairman of the Manchester Airports Group and The Royal Mint. Past roles have included being chairman of Marshalls and non-executive director of Taylor Wimpey.
Rudd said: "I am delighted that I am handing over the role of chairman to Mike, who brings valuable experience from a number of sectors and has gained a solid grounding in the Pendragon business since 2004."
Davies added: "Sir Nigel leaves an extraordinary record from his 21 years as chairman of Pendragon. His sound guidance and firm leadership have been invaluable in the company's growth and development, and leaves a solid financial and operational foundation from which to move forward. I look forward to working with the board and the executive team in the next stage of the company's development."
Commenting on the proposed appointments of further non-executive directors to the Pendragon Board, Davies said: "The company is close to concluding the process for the appointment to the board of two further non-executive directors and we expect to make an announcement in that regard during the next few weeks."
