Marshall Motor Holdings CEO Daksh Gupta leaves after 14 years following company’s acquisition by Constellation Group
Daksh Gupta has left his role as CEO of Marshall Motor Holdings with immediate effect, following its acquisition by Constellation Group.
His exit brings to a close a 14-year spell that has seen the Cambridge-headquartered motor retailer grow its revenues to nearly £4billion and its headcount tenfold as its footprint has increased dramatically through a long series of canny acquisitions.
Daksh said he would “miss it enormously” and would now “explore new opportunities”.
The company was publicly listed on London’s Alternative Investment Market in 2015, but will be delisted from 7am on June 15 after Constellation - owner of the WeBuyAnyCar, BCA (British Car Auctions) and Cinch brands - bought it in a deal that valued Marshall Motor Holdings (MMH) at £313million.
Announcing his departure, Daksh said: “It’s been an incredible journey for both me personally and Marshall Motor Group over the last 14 years. There are so many highlights over that period I can’t list them all but a few that stand out to me include:
- Growing Marshall from a small privately owned group based in the six counties of East Anglia group with revenues of around £300million to a publicly listed national retailer operating in 37 counties with revenues heading towards £4billion
- Buying and selling 224 businesses in various transaction sizes, a few memorable ones include Ridgeway, Motorline, SG Smith, Silver Street, Astle, Crystal, Progress, Devries, F Cross to name a few.
- Seeing our headcount grow tenfold to over 5,000 colleagues whilst achieving Great Place to Work UK status for 12 years in a row and be ranked in the UK’s best workplaces for the last eight years in a row, including being the number one super large retailer across all sectors currently.
- Being a great corporate citizen as well as a leader in promoting diversity and inclusion and mental health issues.
- Seeing the shareholders who came in at IPO in April 2015 benefit from a 292 per cent total shareholder return.
- Winning countless awards over the years, which for me is a reflection of the great team at Marshall.”
He added: “What’s been achieved with the team has been amazing. However, from a personal perspective, I feel the time is now right for me to explore new opportunities.
“I have no idea what that will be and am very open-minded about it. It’s been an absolute privilege to have led the group's transformation and I’m incredibly proud of what our teams have achieved but also the manner in which it’s been done.
“Constellation are inheriting an excellent business with great people and an incredible culture.
“I want to give my personal heartfelt thanks to board colleagues, past and present, my senior leadership team and every colleague within the group.
“I also want to thank our OEM [original equipment manufacturer] partners for their support over the years. Without their support the group would not have achieved the success it has.
“Marshall has been a significant part of my life for many years and I shall miss it enormously.
“Finally, I want to wish the team at Constellation and all of the amazing people at MMH all the very best for the future.”
Announcing the move, the board said: “The board would like to thank Daksh for his many years of service and offer their best wishes for the future.”
Constellation is the biggest digital used car group in Europe and acquired MMH through its subsidiary CAG Vega 2.
The company has previously said: “There may be some restructuring required following completion of the offer. In particular, once Marshall ceases to be a listed company, certain corporate and support functions relating to Marshall's status as a listed company may potentially require reductions in headcount.”
It has also said it has “no plans to change the locations of Marshall's headquarters and headquarter functions”, aside from those relating to its listed status.
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