Plaxton's chief stands down
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/ David Matthews has resigned as chairman and chief executive of the Plaxton Group.
He left the loss-making coach manufacturer and motor dealer last Wednesday, with "general agreement all round", after nearly four years. Michael Doherty, head of building materials group Norcros, has moved in as non-executive chairman. He has spent nearly 20 years in the motor industry, including five years as chairman of the dealer Henlys, now part of Plaxton Group. Group managing director Robert Wood has become chief executive.
Matthews is expected to retain his 6.5% stake in the group, which reported pre-tax losses of £4.5m for the half year to 30 June 1991.
John Tuke, managing director of Plaxton's motor division, has been appointed to the board; another non-executive director will be taken on soon.
Also on the board are finance director Brian Chivers and Neil Beresford, managing director of the PCV manufacturing firm, which reported half year pre-tax losses of £1.6m
David Matthews played a crucial role in the development of Plaxton since joining as chairman and chief executive with the acquisition of Kirkby in 1987, says Wood: He provided the entrepreneurial leadership and flair which successfully developed Plaxton into a significant coach, bus and motor vehicle group, culminating in the acquisition of Henlys in 1989."