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Inchcape Group CFO Gijsbert De Zoeten Resigns; Adrian Lewis Named Acting Group CFO

Inchcape Plc (INCH.L), an automotive distributor, announced Monday that Group Chief Financial Officer Gijsbert de Zoeten has voluntarily tendered his resignation. He will be standing down from the Board with immediate effect.

The company has appointed Adrian Lewis, currently Group Financial Controller, as Acting Group Chief Financial Officer. Lewis joined Inchcape in 2015, initially as CFO for the Emerging Markets region.

A process to identify a permanent successor is being initiated.

Inchcape noted that Gijsbert de Zoeten's resignation follows a recent incident during an event, where, through a lapse in judgement, he displayed personal behaviour falling short of the high standards expected of the leadership of the Group.

Meanwhile, the latest decision is unrelated to the company's financial performance or strategic direction, including the Derco acquisition.

The company expects to publish the Class 1 Circular to shareholders later today, and will reaffirm the Group's 2022 outlook and the expected timetable to completion of the Derco transaction.

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