Tech

Former Ocado CFO joins Kazoo ahead of $ 7 billion US float

Online car dealer Kazoo Is to add Duncan Tutton-Brown on board when listed in New York.

Tatton-Brown was most recently Chief Financial Officer of Ocado Group Plc from 2012 to 2020 and Senior Advisor to the Board of Directors.

Prior to joining Ocado, he was CFO at Fitness First Plc, Kingfisher Plc, B & Q Plc and Virgin Entertainment Group.

He will be Senior Independent Director and Chair of the Audit Committee. Kazoo.. He is currently a board member of Trainline Plc and previously a non-executive board member of ZPG Plc and Rentokil Initial Plc.

Founded in 2018 by serial entrepreneur Alex Chesterman, Kazoo was worth $ 2.6 billion in its latest private funding round last October.

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In the third quarter, it will be released in the United States in a merger with a blank check company (known as SPAC) led by billionaire investor Dan Och. Worth $ 7 billion..

“I’m happy that Duncan can participate. Kazoo If you are listed on the NYSE, please join the board of directors, “said Chesterman.

“His experience of helping build large consumer businesses over the years is invaluable as it continues to transform the consumer car buying experience in the UK and Europe.”

Cazoo is a pioneer in the transition to online car purchases in Europe, already delivering more than 20,000 cars to consumers across the UK.

Following a recent acquisition, Cazoo is now Europe’s leading automotive subscription player with over 6,000 subscribers in the UK, Germany and France. We are currently planning international expansion.

Cazoo owns and recalibrates all vehicles and then sells them on the website for delivery or collection within 72 hours.

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As one of Europe’s fastest growing businesses Kazoo It is expected to generate nearly $ 1 billion in revenue in 2021, achieve growth of over 300% in its second year of operations, and already have teams of over 1,800 in the UK, Germany, France and Portugal. doing.

Tutton Brown said: “I’m really excited to participate Kazoo b bWorking with Alex and his team.

“”There are some very clear similarities with my other recent ones Experience and I look forward to helping the shape Kazoo The mission to digitally destroy used cars, one of Europe’s largest retail markets, is worth more than $ 700 billion annually. “

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Former Ocado CFO joins Kazoo ahead of $ 7 billion US float

Source link Former Ocado CFO joins Kazoo ahead of $ 7 billion US float

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