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Xchanging boss Ken Lever joins board of Vertu Motors

VETERAN finance director Ken Lever has joined the board of Vertu Motors as a non-executive director with effect from 1 June 2015, the automotive retailer.

The boss of business process outsourcer Xchanging has built a reputation as a turnaround expert but joins Vertu during an “exiting growth phase” as it reported record profits and sales for the year ending 28 February.

Revenue for the year increased to £2.1bn, while pre-tax profits rose almost 33% to £21m. Trading in March and April of 2015 was ahead of its current year financial plan, and significantly ahead of prior year levels, Vertu said.

Lever has a wealth of City, technology and finance experience and served as chief financial officer at many listed companies including Alfred McAlpine, Albright & Wilson, Tomkins, Xchanging and Numonyx, the Swiss-based technology business.

A former partner at Athur Andersen, Lever is also a non-executive director of FM International and, from 2007 to 2013, served as a member of the accounting council of the Financial Reporting Council.

Peter Jones, chairman of Vertu, said:”I am delighted Ken has agreed to join Vertu as a non-executive director. His wide-ranging experience in listed companies has given him real insight and expertise in the generation of shareholder value and our board believe he will add considerable value as the group moves into another exciting growth phase.”

Lever said: “I am pleased to be joining the board of Vertu at this important stage in its development. I am very much looking forward to working with the board to help deliver further growth in shareholder value.”

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