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Pendragon CEO to step down just months after taking job

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(Reuters) – Pendragon Plc said on Thursday its Chief Executive Officer Mark Herbert will be stepping down just months after taking the top job.

The news comes just about two weeks after the British car dealership warned of a pretax loss this year, flagging weak demand for both new and used cars.

Herbert, who moved into the role on April 1, will be stepping down on June 30. The company said it has begun a search for a replacement.

(Reporting by Shariq Khan in Bengaluru; Editing by Bernard Orr)

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