Vertu Motors appoints Karen Anderson as new CFO

Automotive retailer Vertu Motors has appointed Karen Anderson as its new chief financial officer with effect from 1 March 2019.

Anderson will replace Michael Sherwin, who informed the board of his intention to step down in March to "further develop his portfolio of business interests". He had been the group's CFO since 2010.

Anderson, who trained as a chartered accountant, is currently deputy CFO and company secretary. She joined the AIM-listed company back in 2006 and served as group finance director until 2010, seeing Vertu through its flotation and initial growth period.

Chairman Peter Jones said: "I am delighted to welcome Karen to her future new role as CFO and to the board following the thorough external benchmarking exercise we have undertaken. Karen's wealth of both industry and finance experience will help to guide the business through its next stage of growth.

"Michael has been an executive director of the group for nearly nine years and has been instrumental in its strategic development and significant growth. I would like to thank him for all he has contributed."

At 1250 GMT, the shares were flat at 35.80p.