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Former GE Capital CEO Laxer Joins Pendragon as Non-Executive Director

November 19, 2018, 07:12 AM

Former GE Capital Chairman and CEO Richard Laxer has joined Pendragon PLC as a Non-Executive Director, Pendragon announced.

Laxer joined Pendragon following an extensive executive career with the General Electric Company, where most recently he held the top posts at GE Capital. GE announced last December that Laxer would retire effective March 21, 2018.

Pendragon PLC Group includes four main businesses. It has vehicle retail locations throughout the United Kingdom, and in Southern California. These UK and U.S. Motor businesses are branded Evans Halshaw and Stratstone in the UK and Hornburg in the U.S., operating from over 220 locations.

The company also is a nationwide fleet provider through Pendragon Vehicle Management and provides software to the automotive sector through Pinewood Technologies.

Laxer will serve on the company’s Nomination Committee, Remuneration Committee and Audit Committee and will succeed to the roles of Senior Independent Director and chair of the Company’s Audit Committee.
In addition to his roles at General Electric, Laxer also has extensive board experience, being a former non-executive director serving on the boards of a number of major European based banks.

Pendragon’s Chairman, Chris Chambers said: “I am really pleased that Richard has agreed to join our board.  His significant and extensive experience in delivering the successful transformation of a portfolio of complex financial services businesses is an ideal addition to our board as we continue our own transformation and progress towards achieving our strategic objectives.”

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