Director bows out at CMA

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The Independent Online
THE JOINT managing director of Central Motor Auctions, Steve Kendall, is to leave the group as it announces its annual results today.

Mr Kendall's departure follows the death of the chairman, Eric Myers, and the appointment of George Inch as chief executive last month. A spokewoman stressed that there would be no surprises in today's figures.

Albert E Sharp, the company's broker, had forecast flat profits of pounds 850,000 before tax.

The spokeswoman said the boardroom rejig followed a review of the business by the new chief executive. Richard Wilson, who has been acting chairman since Mr Myers' death, is confirmed as non-executive chairman and Mr Myers' grandson, Nigel, is appointed a non-executive director.

The late chairman founded the business and his family holds about 50 per cent of the shares.

Analysts said Mr Kendall was CMA's business strategist and the face of the company in the City and to the Press. One observer said the new chief executive, who was recruited from BRS, the National Freight Corporation subsidiary, would want to fulfil those roles himself.