Fleet News

LDV chief executive takes early retirement

THE chief executive of beleaguered van maker LDV has stepped down after 12 years in charge.

Allan Amey has taken early retirement less than a month after the firm was bought by Sun Capital Partners amid a cashflow crisis that resulted in LDV going into administration.

Amey (59) had headed LDV since 1989 and led a £40 million management buy-out from the receivers of Leyland DAF in 1993. He was the company’s single biggest shareholder.

In a statement, Amey said: ‘In the last year, we have achieved two major objectives: the launch of the Maxus product range, which will see the business through the next decade, and the completion of a new financial sponsorship that has the capability to support the next phase of LDV’s growth.

‘With these two objectives achieved, it is appropriate that new management take the business into its next growth phase.’

Charles P Megan, an operating executive with an affiliate of Sun Capital Partners, has been appointed to the post for the interim.

Megan said: ‘I would like to recognise Allan Amey’s many contributions to LDV and wish him well in his retirement. We appreciate his stewardship through the recent transition period and share his optimistic view of the company’s future. We intend to build upon the foundation that Allan has laid.’

Production at the Birmingham LDV plant was halted over Christmas as the deal with Sun was reached, but restarted at the beginning of January.

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