Cazoo, the online car retailer has appointed Stephen Morana as its new CFO.
Kazoo said Morana is one of the “most experienced and well regarded” CFO’s in the UK online sector and brings with him “significant” experience from start-ups to the FTSE 100.
He has floated two leading UK digital businesses in recent years, Betfair and Zoopla, both achieving multi-billion pound valuations. He has also sat on the board of online fashion giant Boohoo when it went public, now the highest valued AIM listed business and he is currently the senior independent director at FTSE 100 gambling giant GVC.
Morana will start at Cazoo in mid-July and joins as the business seeks to accelerate the UK’s shift to online car buying. Cazoo recently raised a further £100m, taking its total funding to £180m and this week announced a multi-year agreement to become the main partner and shirt sponsor of Premier League football club, Everton.
Morana will also join the Cazoo board of directors and executive team and will report directly to founder and CEO, Alex Chesterman.
Morana said: “What Cazoo has achieved in under a year is incredible and I’m really looking forward to joining the team. Selling thousands of cars and generating over £40m of revenues in just a few months since launch is exceptional.
“I have been lucky to work for some amazing businesses and wasn’t planning to take another full time role but, having worked with Alex before, I know that he is building a world-class operation with Cazoo that will transform the way people buy used cars in the UK by providing consumers with better selection, value and convenience. I can’t wait to get started.”
Chesterman added: “I am delighted to welcome Stephen to Cazoo and to be working with him again. His track record and experience are second to none and he will be a great addition to our team.
“There is nobody who has had greater exposure to some of the UK’s most successful digital businesses over the past decade and he will play a key role in helping to deliver on our ambition of creating the best car buying experience in the UK over the coming years.”