UK dealer group Inchcape's finance boss steps down

UK dealer group Inchcape said its finance chief, Gijsbert de Zoeten, was stepping down after a "lapse in judgement" that involved behavior the company said fell short of standards expected of its executives.

Inchcape, which appointed insider Adrian Lewis as acting group chief financial officer while it looks for a permanent replacement, said Zoeten's departure was not related to the company's financial performance or strategy.

The company said Zoeten resigned voluntarily after the incident where "he displayed personal behavior falling short of the high standards expected of the leadership of the group."

Inchcape declined to elaborate on the circumstances.

Zoeten did not immediately respond to a request for comment sent on the networking platform LinkedIn.

The Dutch businessman, who is in his mid-fifties, joined Inchcape in 2019. Before joining, he had previously worked for 27 years at consumer goods giant Unilever.

Inchcape is Europe's third-largest dealership group by revenue, according to Automotive News Europe's 2021 Guide to Europe's biggest Dealers. It has 152 new-vehicle franchise points in the UK.