Davis will join the board on July 1 and is expected to become a non-executive director, a member of the Nomination Committee and chairman designate from September 14 at the conclusion of the company’s AGM, where he will succeed outgoing chairman Ed Williams who has been in the role for nine years.
Davies has held a number of leadership roles in retail, including as CEO at Pets at Home, Halfords and Tesco. He is currently chairman at Greggs Bakery and was previously chairman at fashion retail platform N Brown and a non-executive director of Dunhelm Group. He is also chairman of privately owned businesses Hobbycraft and Travel Counsellors.
“I would like to thank Ed for his huge contribution to Auto Trader’s strategy, business and culture over many years,” said Auto Trader CEO Nathan Coe. “I look forward to working with Matt who brings a wealth of UK retail, digital and brand experience and is a great fit with both the Board and organisation.”
“Auto Trader is a great company and I am delighted to be taking on this role in a business with such a strong sense of purpose,” said Davies.
Last week, Auto Trader published its financial results for the year to March 2023. The company saw its group pre-tax profit drop by 2% from £301 million to £294 million ($364 million U.S.).