BusinessCorporate FinanceNon-execs appointed for EasyCar float

Non-execs appointed for EasyCar float

Easycar has appointed two former retail executives as independent directors as it prepares to float on the London Stock Exchange.

Link: Deal paves way for EasyRentacar IPO

Former Storehouse chief financial officer David Simons and Alan McWalter were appointed non-executive directors as Stelios Haji-Ioannou attempts to lift the company out of the red to break even by September.

The appointments were made to reassure shareholders they would not have their hand forced by a chairman who is also a majority shareholder.

But city analysts are surprised by Haji-Ioannou’s decision to appoint Simons, who was ousted from super market group Somerfield, where he was chief executive officer, after leading a botched attempt to merge with Kwik Save.

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