Hendy took the market by surprise with the announcement that Duncan McPhee, Chief Operating Officer is to leave the company.
The former Lookers COO has 12 months left in the post as he serves out his notice.
The announcement comes at a challenging time for Hendy which recently announced a late set of results for the group leaving it in the red.
The group came under pressure in 2024 turning in a pre-tax loss of -£18.1m compared to £7.2m profit in the prior year on turnover down 5% to £1.01bn.
In results filed at Companies House it said 2024 was “exceptionally challenging” with the suspension of sale of GAP products in February that year and a marked deterioration in new vehicle profitability as a result of the negative impact of the ZEV Mandate.
In a statement released this morning Hendy Group said: “Duncan McPhee, chief operating officer has formally confirmed his intention to step down from his position in order to take up a chief executive officer role elsewhere in the motor retail sector. He is expected to remain in post to complete his 12-month notice period.
“The Hendy Board extends its thanks to Duncan for his contribution to the business and conveys its best wishes for his future endeavours.”
