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Potts leaves Inchcape for 'new challenges'

Inchcape has this afternoon announced that Graeme Potts, retail managing director for the UK, Europe and South America, is stepping down from the board and is leaving the group.

The date given for his departure is Sunday (September 17).

During his time with Inchcape Graeme Potts has worked alongside first Peter Johnson and now Andre Lacroix during a successful period of growth for Inchcape, as most recently demonstrated by the interim results published on August 3.

In its August interims Inchcape reported a rise in profit before tax of 11.1% to £112 million in the six months of the year to June 30. Sales were also up 8.1% to £2.44 billion.

Lacroix, group chief executive, said today: "As our recent results show and under Graeme's leadership, we have significantly improved the performance of our UK business. We have grown it both organically and through a number of acquisitions, and we have an excellent management team in place. We wish Graeme the very best in the next stage of his career."

And Potts said: "I have greatly enjoyed my time with Inchcape, and am proud of the shape of the UK business today. I wish the board and my colleagues in Inchcape every success in developing the next phase of the group's strategy and, for my part, I look forward to new challenges."

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