Auto Trader Announces COO Departure; Succession Plans Underway

Auto Trader Group PLC (LSE: AUTO), the UK's leading digital automotive marketplace, announced today that Chief Operating Officer Catherine Faiers will be stepping down from her role to assume a CEO position at Moonpig. 

The company stated it will ensure a seamless and orderly transition, with details regarding succession arrangements and Faiers' final departure date to be disclosed in due course.

Nathan Coe, CEO of Auto Trader, acknowledged Faiers' significant contributions over the past eight years. He highlighted her commitment, values, and dedication to Auto Trader's stakeholders.

Coe stated, “We are grateful for Catherine's contribution to Autotrader over the past eight years…Catherine has been instrumental to many of the changes we have made in the business and will be missed.”

Faiers herself expressed pride in her tenure at Auto Trader, citing the company's innovation and growth within the UK automotive industry.

She noted, “It has been a privilege and a true career highlight to serve on the Board and leadership team of Autotrader…I'm proud to have contributed to shaping Autotrader's strategy and growth during this pivotal period.”

Driver Breakdown:

• Leadership Transition: The key focus will be on the smooth handover of responsibilities and the appointment of a successor who can maintain the current strategic direction.
• Operational Continuity: The company emphasizes its depth of talent, suggesting minimal disruption to ongoing operations and strategic plans.
• Market Confidence: Maintaining investor confidence during this transition period is crucial for sustaining AUTO's stock performance.

CEO Nathan Coe stated, “We are in the fortunate position to have a depth of talent at Autotrader enabling us to continue with our existing strategy and plans without interruption,” reinforcing the company’s commitment to stability.