Auto Trader CEO who led stock market float to retire next year
The chief executive who led the transformation of Auto Trader from a printed magazine to a FTSE 100 digital company is to retire next year.
Trevor Mather, who joined the business as CEO in 2013, has announced plans to retire from the Manchester-based business by the end of March 2020.
He led the group’s £2.3 billion flotation on the London Stock Exchange in 2015 and has helped to grow its share price by 70% in the past year.
He will be replaced by Nathan Coe, who is chief operating officer and chief financial officer.
Current operations director Catherine Faiers will be promoted to chief operating officer and will join the company board next month.
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.”
Mather said his period at the helm had been "the greatest privilege of my career".
Originally joining from Thoughtworks in 2013, Mather took the top job at Auto Trader when it was co-owned by Guardian Media Group (GMG) and buy-out firm Apax.
The Sunday Times reported in 2016 that he had at that point earned a windfall totalling £80million from the company.
In November, it released its half year figures showing a 9% rise in profits to £114.5m and a 7% increase in revenue, to £176.8m.