THE group CEO of Marshall Motor Holdings, Daksh Gupta, has stepped down from his board position.
Effective immediately, the announcement was made on a statement to the stock exchange, reports Auto Retail Agenda.
A statement from the board read:
“The Board would like to thank Daksh for his many years of service and offer their best wishes for the future.”
Constellation Automotive Holdings recently bought Marshalls. Constellation is the parent company to BCA, Cinch and WeBuyAnyCar.
At the time, Constellation suggested that it might take Marshalls private, saying:
“Once Marshall ceases to be a listed company, certain corporate and support functions relating to Marshall’s status as a listed company may potentially require reductions in headcount.”
Whether that was a factor behind Daksh’s decision is unknown. However, earlier this month the new owners did delist the company from the London Stock Exchange.
In a message on LinkedIn, Daksh said today:
“What’s been achieved with the team has been amazing, however from a personal perspective, I feel the time is now right for me to explore new opportunities. I have no idea what that will be and am very open minded about it. It’s been an absolute privilege to have led the Group’s transformation and I’m incredibly proud of what our teams have achieved but also the manner in which it’s been done. Constellation are inheriting an excellent business with great people and an incredible culture.”
Daksh joined Marshall as CEO in 2008 and led the business to become a hugely successful listed car retail group offering 20 brands across 188 sites.
Constellation paid £325m to take over Marshall Motor Holdings which was approved earlier in May.
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
