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.