Online car retailer听Cazoo听is to add听Duncan Tatton-Brown to its board听when it lists in New York.听
Tatton-Brown听was most recently Chief Financial Officer of Ocado Group Plc from 2012 until 2020, where he remains a senior advisor to the board.听听
Prior to joining Ocado, he held CFO roles at Fitness First Plc, Kingfisher Plc, B&Q Plc and Virgin Entertainment Group.听
He will become a听Senior Independent Director and audit committee Chair at听Cazoo. He currently serves on the Board of Trainline Plc and was formerly a Non-Executive Director at ZPG Plc and Rentokil Initial Plc.听
Founded by serial entrepreneur Alex Chesterman in 2018,听Cazoo听valued at $2.6bn听in its听latest听private funding round last October.听
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In Q3 it plans to go public in the US via a merger with a blank cheque company – known as a SPAC – led by billionaire investor Dan Och听which will see it valued at $7 billion.听
鈥淚 am delighted that Duncan will be joining the听Cazoo听board once we become listed on the NYSE,鈥� said Chesterman.听听
鈥淗is experience in helping to build large consumer-facing businesses over many years will be invaluable as we continue to transform the car buying experience for consumers across the UK and Europe.鈥�听
Cazoo听is pioneering the shift to online car buying in Europe and听has already听delivered听more than听20,000 cars to consumers across the UK.听听听
Following its recent acquisitions,听Cazoo听is also now Europe鈥檚 leading car subscription player with over 6,000 subscribers across the UK, Germany and France.听It is now planning international expansion.听听
Cazoo听owns听and reconditions听all its cars before offering them for sale on its website for either delivery or collection in as little as 72 hours.听
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As one of Europe鈥檚 fastest-growing businesses,听Cazoo听expects to achieve revenues approaching $1bn in 2021, a growth rate of more than 300% in its second full year of operations and has already built a team of over 1,800 across the UK, Germany, France and Portugal.听听听
Tatton-Brown said:听鈥淚 am really excited to be joining the听Cazoo听board and to be working with Alex and his team.听听
鈥�There are some very clear parallels with my other recent听experiences听and I am looking forward to helping shape听颁补锄辞辞鈥檚听mission to digitally disrupt one of the largest retail markets in Europe, used cars, worth over $700bn annually.鈥�听