The highly respected CEO of Marshall Motor Group Daksh Gupta has announced he will leave his post with immediate effect following confirmation last week that Constellation Automotive Group’s £325m takeover received regulatory approval from the Financial Conduct Authority (FCA) to complete its acquisition of the listed dealer group.

His departure was announced this morning in a note from Constellation Automotive Group who own WeBuyAnyCar, Cinch and BCA, to the London Stock Exchange which said, “Marshall Motor Holdings Plc announces that Daksh Gupta, group CEO, has today agreed with the board to step down from his position with immediate effect. The board would like to thank Daksh for his many years of service and offer their best wishes for the future.”

Gupta, whose future was uncertain since the proposed deal was announced in November and who was barred from speaking to the press, posted the news himself on LinkedIn.

He said: “I’ve agreed to step down from my role of Group CEO of Marshall with immediate effect. It’s been an incredible journey for me and Marshall Motor Group over the last 14 years. There are so many highlights I can’t list them all but a few that stand out include:

* Growing Marshall from a small privately owned with revenues of £300 million to a publicly listed national retailer operating in 37 counties with revenues heading towards £4 billion.

* Buying and selling 224 businesses in various transaction sizes.

* Seeing our headcount grow 10 fold to over 5000 colleagues whilst achieving Great Place to Work UK status for 12 years in a row and be ranked in the UKs best workplaces for the last 8 years.

* Seeing the shareholders who came in at IPO in April 2015 benefit from a 292% total shareholder return.

He went on to say that he is looking forward to exploring new opportunities and is very open minded about what they may be.

“Constellation are inheriting an excellent business with great people and an incredible culture. I wish the team at Constellation and all of the amazing people at MMH all the very best for the future,” he added.

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