Motorpoint Group founder and executive director David Shelton is to become a non-executive director by 2018.
In an announcement made yesterday, the top ID50 independent vehicle retailer explained that Shelton (pictured) is to begin a "phased reduction" in his contracted hours.
The reductions will continue over the course of the 2018 financial year until April 1, when he will become a non-executive director of the group.
Shelton remains a substantial shareholder in Motorpoint and remains subject to the lock-in, relationship and service agreements outlined in the Group's IPO prospectus.
Motorpoint's chairman Mark Morris (pictured) said: “David was the founder of Motorpoint and has been critical to its development and success.
"We are pleased that he wishes to remain within the business, both during his phased reduction in working hours and subsequently as a non-executive director.
"We are glad to be able to retain David's passion, experience and knowledge which will continue to support the operational management team."