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.
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.