Former Paddy Power CEO Andy McCue has been appointed executive chairman at Carzam, the online used car retailer.
Carzam, which sold 13,500 cars in its first year of trading, recently announced a Series A investment of £112m as part of its first external fundraising round. The funds will be invested in expanding the stock of cars.
McCue spent 10 years at Paddy Power, including as CEO where he oversaw the merger with Betfair in 2015. He was later CEO of The Restaurant Group.
McCue said: “Carzam is well positioned to take significant market share in the fast-growing online car market.
“The business is steeped in motor industry experience. I’m looking forward to supporting the business in building out its product, technology and marketing capabilities to ensure Carzam customers receive a great product, with excellent value for money, as conveniently as possible.”
Carzam CEO Kirk O’Callaghan said: “Andy’s appointment marks the start of Carzam’s next stage of development.
“His track record speaks for itself and his growth expertise, combined with the team’s motoring heritage, will help to further accelerate our expansion.
“To have reached a stage where we can attract someone of Andy’s pedigree reflects the success the business has achieved to date. Huge credit is due to every one of Carzam’s 150 employees.”
Carzam operates nationwide, offers home deliver and collection facilities, a 14-day returns policy and a 100-day guarantee on vehicles.