Auto Trader Group plc announced that Tom Hall, Nick Hartman and Victor 'Chip' Perry III have resigned from the Board with immediate effect. Tom Hall and Nick Hartman had previously been appointed to the Board under the terms of a Relationship agreement entered into with the company's former principal shareholders, funds advised by Apax. The funds advised by Apax have now disposed of the majority of their holdings in the Company, and therefore Tom and Nick have both offered their resignations to the Board.

Chip Perry has also notified the Board that he resign as a Director of the company owing to his executive commitments. Chip, CEO of AutoTrader.com in the US from 1997 to 2013, was recently appointed as President and CEO of TrueCar Inc. Chip will continue to assist the company in an advisory capacity, helping the company to understand and interpret developments in the US automotive advertising market and their applicability to Auto Trader in the UK.