Former Lookers COO Nigel McMinn (right) has taken a majority stake in automotive recruitment company Rybus Recruitment. Colin Phebus is staying on as director in to continue to support its partners and candidates.
“Between us, we have over 50 years’ experience in the sector and have worked together for over 20 years. I feel this is a great opportunity for all stakeholders to benefit from the wealth of knowledge and contacts we have,” said Phebus on LinkedIn.
McMinn said: “I always hoped that the last chapter of my career would be doing something fun with people I like.
“So, I feel extremely fortunate to be working with Colin again; he’s been my trusted colleague and friend for many years.
“He’s very well connected and respected in the automotive sector, and has built a fantastic business which is already highly rated within the recruitment industry.
“Whilst Colin still has some “skin in the game” it’s also my first step into owning real equity in a business, which is both exciting and nerve racking in equal measure.”
McMinn and CEO Andy Bruce stepped down from Lookers in 2019 following a weak trading statement and an announcement of an investigation by the FCA into its motor finance operation
The FCA closes its investigation in 2021, did not fine Lookers for any breaches but said it had concerns over the historic culture, systems and controls the group had in place.
McMinn said: “Many people will immediately understand what I mean when I say that there has been some comfort in keeping a lower profile for the last few years, but I realised that I had to breathe deeply, be bold and take a big step back into the limelight for this to work. Which is why it’s felt like a huge relief to have had such an overwhelming and positive response on LinkedIn this week which Colin talks about below,” said McMinn.
