Boss of £300m used-car firm was ousted after ‘orchestrated plan’ by investors, judge rules
•A high court judge ruled that Peter Waddell was ousted from Big Motoring World due to a planned effort by investors.
•Waddell, a multimillionaire, was found to have been dismissed for gross misconduct.
•The conflict led to significant turmoil within the £300m used-car firm, impacting the investors negatively.
المصدر: The Guardian | Source: The GuardianMultimillionaire Peter Waddell is also found to have been properly dismissed from Big Motoring World for gross misconduct
A 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.
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→A high court judge ruled that Peter Waddell was ousted from Big Motoring World due to a planned effort by investors.
→Waddell, a multimillionaire, was found to have been dismissed for gross misconduct.
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