Home Business NewsBusiness AA sacks boss for ‘gross misconduct

AA sacks boss for ‘gross misconduct

1st Aug 17 3:39 pm

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The AA has been removed Bob Mackenzie from his role as executive chairman for ‘gross misconduct’ with immediate effect.

A statement released earlier today gave no further details on the cause of the sacking but a spokesperson for the AA said it was a ‘personal conduct matter.’

Mackenzie had been in the position since 2014 and the company said John Leach will replace him as chairman, while Simon Breakwell, founder of Expedia, has been appointed as acting chief executive.

The news saw the roadside recovery’s share price drop by 18 per cent.

The statement also included a pre-close update and said the business had demonstrated ‘a robust performance in the first half.’

However, they did warn that ‘the financial performance in the first six months has been negatively impacted by the effect of erratic work load patterns on an inherently fixed cost base. This was especially true in June and July which saw significant spikes in demand.’

“We now expect the full year performance to be broadly in line with that of the last financial year,” the statement said.

“We are announcing results for the six months ended 31 July 2017 on 26 September. At that stage, Simon Breakwell will be in a position to provide an update on our plans.”

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