"High Stakes Power Struggle: Multimillionaire CEO Ousted in £300m Company Coup A dramatic and highly charged power struggle has come to a head in a £300m car dealership empire, with a multimillionaire CEO being forced out of his role in a move that a high court judge has ruled was orchestrated by private equity investors. Peter Waddell, the 60-year-old founder and CEO of Big Motoring World, was ousted in 2024 after a bitter dispute that resulted in "more-or-less open warfare" within the company. The court has now ruled that Waddell's dismissal was justified, citing "gross misconduct" and "unfair prejudice" to the investment company that held his majority stake. The ruling sheds light on a complex and potentially explosive battle for control of the company, with significant implications for the future of Big Motoring World."
Multimillionaire Peter Waddell is also found to have been properly dismissed from Big Motoring World for gross misconductA multimillionaire used-car salesman was ousted from his £300m company after “a pre-conceived and orchestrated plan” devised by private equity investors that had backed his business, a high court judge has ruled.Peter Waddell, 60, was forced out as the chief executive of the Kent-based dealership Big Motoring World in 2024 in a coup that resulted in “more-or-less open warfare” at the car seller and caused “unfair prejudice” to the investment company that held Waddell’s majority stake. Continue reading...
