Lookers is one of the UK and Europe’s leading automotive retailing groups and is now wholly owned by Global Auto Holdings, which is part of the Canadian headquartered Alpha Auto Corporation (‘Alpha’). The business has a long history of serving customers in the United Kingdom and Ireland, and currently represents 38 manufacturers in both the premium and volume segments of the market. The group covers new and used passenger and commercial vehicles, leasing and a comprehensive aftersales and servicing offer. The corporate strategy is to focus upon growth, having the right brands in the right locations, alongside excellent service and a commitment to providing outstanding retail experience.
Since the acquisition by Alpha in the second half of 2023, the business has commenced a journey of significant cultural transformation, from a plc with a corporate superstructure to a leaner, more urgent, commercial and financially led company, with ambition to grow. At the point of acquisition, the business was valued at £504m, with a turnover of approximately £4.2bn and over 6,500 employees.
There have been significant changes at the top of the organisation. The Alpha Executive Chairman and driving force, Kuldeep Billan, a highly successful entrepreneur with an investment background, is now the leading executive. The former plc CEO, COO and the CFO have left the business post-disposal, and the plc board has been disbanded. Chris Whitaker who had been appointed Chief People Officer in 2021 is now the Chief People & Administration Officer. Andy Garrett remains the Group’s Chief Information Officer. In late 2023, after a post-acquisition review, the business was restructured to reflect a more efficient and leaner cost base. There is therefore a streamlined team at the top, which mirrors the more entrepreneurial ethos of the new ownership, to which a new Independent Non-Executive Director & Chair of Audit will be a significant complementary appointment.
This is a real opportunity for an outstanding Independent Non-Executive Director & Chair of Audit to help drive accelerated performance in this new and exciting chapter in the group’s history.
The Non-Executive Chair of the Audit Committee is a key leadership position responsible for overseeing the audit process, ensuring the integrity of financial reporting, and managing the relationship with external auditors. The Chair leads the Audit Committee in providing independent assurance to the Board of Directors on the effectiveness of internal controls, risk management, and the accuracy of financial statements.
*The role will be an SMF 11 in the Senior Managers Regime and the candidate will have to get regulatory approval.
Required Background:
- Financial Expertise: Chartered Accountant (CA), Certified Public Accountant (CPA), or equivalent qualification. Strong knowledge of accounting principles, financial reporting, and auditing standards.
- Audit Experience: Extensive experience in auditing, either in a senior role within an audit firm (e.g., Partner) or as a senior executive overseeing audits in a large organization.
- Risk Management Knowledge: Understanding of risk management frameworks, internal controls, and regulatory requirements.
- Corporate Governance Knowledge: Familiarity with corporate governance practices, particularly related to board operations and fiduciary duties.
- Candidates should also be able to evidence experience in or with the automotive or retail sectors, particularly with organisations who are FCA regulated.
The position offers a competitive salary of £80,000.
If of initial interest, please get in touch with Ali Shaw [email protected] or Kirsty Mclardy [email protected] at Livingston James, our retained advisors. Any applications or third party introductions to Lookers will be sent on to Livingston James for consideration.
Lookers – Independent Non-Executive Director & Chair of Audit
Lookers is an equal opportunities employer and positively encourages applications from suitably qualified and eligible candidates regardless of sex, race, disability, age, sexual orientation, gender reassignment, religion or belief, marital status or pregnancy and maternity.
