Auto Trader chief Trevor Mather to retire
Auto Trader chief executive Trevor Mather is to retire from the top role at the online car dealership, months after leading it into the FTSE 100.
Mr Mather, who joined the business as CEO in 2013, led the group’s £2.3 billion flotation on the London Stock Exchange in 2015 and has helped its share value rise by more than 70% in the past year.
He announced plans to retire from the business by the end of March 2020.
The company hailed “record growth” for the half-year to September 2018 as it saw revenues jump 7% to £176.8 million.
Nathan Coe, currently chief operating officer and chief financial officer at the company, will take over at the helm upon Mr Mather’s retirement and has been made CEO-designate for the interim period.
Mr Coe joined the company in 2007 and was part of its transition from a magazine business to a purely digital company.
Chairman Ed Williams said: “Trevor has made a phenomenal contribution to Auto Trader’s success over the last six years.
“In addition to leading the hugely successful IPO, he has overseen a period of consistently strong financial results and shareholder returns whilst also working tirelessly to build a unique and values-led culture.
“The fact that we are able to promote from within to replace him, as well as the other senior roles around him, is clear testament to the strength of the team that he has developed and nurtured.”
Mr Mather said: “It has been the greatest privilege of my career to be at the helm of Auto Trader.
“It’s an outstanding business, and I want to thank every one of the wonderful employees who have helped to create the successful company that it is today.
“Nathan has effectively been running the business alongside me since 2017. He is more than ready to lead the company and I am proud and lucky to have worked with him.”
Current operations director Catherine Faiers will be promoted to chief operating officer and join the company board from the start of next month.
Ms Faiers joined the business in 2017 after working as COO at upmarket taxi firm Addison Lee, and is responsible for day-to-day operations at the company.