ONE OF THE UK’s most senior accountants has been lined up to chair the RAC ahead of a potential listing.
Sir Mike Rake, CBI president and former global chairman of KPMG, is in line to take the chairmanship breakdown assistance business. RAC, owned by private equity group Carlyle, could go through an IPO but a sale to other private equity houses is still an option, reports City AM.
He spent many years at KPMG, latterly as chairman of UK, International and Global. He has also held several senior business roles since leaving the Big Four firm. He served as EasyJet chairman during a volatile period where its founder Sir Stelios Haji-Ioannou tried to oust him from his role.
Sir Mike is also chairman of BT Group, deputy chairman of Barclays and director at McGraw-Hill. He chairs the Henley Festival and is a member of the board of the Transatlantic Business Council, a membership association of 60 plus global member companies with a focus on transatlantic trade.