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Major changes at Perrys

Perry Group has announced a series of operational changes today, including the resignation of its chief executive, John Woollatt.

In an announcement to the stock exchange this morning the group revealed that Mr Woollatt was to leave by mutual consent. A new chief executive has been appointed and he will take up the post by October 1.

Also Perry's directors announced that the company is to change its name to Nationwide Accident Repair Services, on shareholder acceptance at an extraordinary general meeting on August 8. The change is meant to reflect the company's new focus on accident repair and management operations following the sale of the group's motor division in March last year.

Perry also announced it has entered a sale and leaseback agreement with Lombard Vehicle Leasing to acquire the remainder of Nationwide's owned courtesy car fleet for £3.4m. The group has also sold its International Motor Parts (IMP) business to SSVG, a division of Unipart, for £450,000. In the year ended December 31, 2000 IMP made a loss before tax of £2.1m on £303,000 turnover.

  • Collins Stewart has joined Perry Group as financial adviser and stockbroker.
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