Pendragon has appointed Bill Berman as chief executive officer with immediate effect.
Berman joined Pendragon in April 2019 as a non-executive director, and has performed the role of interim executive chairman since October 2019. Berman will continue his role of chairman on an interim basis while the process for recruitment of a permanent chairman continues.
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Berman boasts over 30 years’ experience in automotive retail. Prior to joining Pendragon he served as president and chief operating officer of AutoNation, the largest automotive retailer in the US. Berman was responsible for AutoNation’s 26,000 associates and the operational performance of the company’s 300 new vehicle franchises, including new and used vehicle sales and aftersales.
“In my relatively short time with the business, it is already clear to me that Pendragon is a company with great potential and a talented team,” said Berman. “As chief executive officer, I look forward to building on strong relationships with our team members, customers, suppliers, our OEM partners and investors as we move forward together in a period of rapid change and innovation in the automotive retail sector.”
The dealership network recently published its 2019 H2 results, which revealed significant improvements in performance, despite various challenges facing the company.
Pendragon said in a statement: “The Group’s underlying profit before tax for FY19 is expected to be around the bottom end of current expectations. However the board remains confident that the improvement in performance during the second-half puts the business on a much stronger footing as we enter 2020.”
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By GlobalDataThe firm said the improvement was despite challenging market conditions and weakened consumer demand in the run up to the general election.
Pendragon said: “The period benefited from the actions taken by management to re-set performance, as outlined at the group’s interim results, which included the closure of 22 underperforming Car Store locations, better management of vehicle inventory and a clear focus on operational cost management.”
