The CEO of online vehicle marketplace Auto Trader has notified the company board of his intention to retire.

Trevor Mather will leave the role on 31 March 2020 and will be succeeded by Nathan Coe, the company’s current COO and CFO.

Jamie Warner will assume the new role as CFO-designate and current operations director Catherine Faiers will be promoted to COO.

“Trevor has made a phenomenal contribution to Auto Trader's success over the last six years,” said Ed Williams, chairman of Auto Trader.

“In addition to leading the hugely successful IPO, he has overseen a period of consistently strong financial results and shareholder returns whilst also working tirelessly to build a unique and values-led culture.

"The fact that we are able to promote from within to replace him, as well as the other senior roles around him, is clear testament to the strength of the team that he has developed and nurtured.

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"We greatly appreciate everything that Trevor has done for the business, and the manner in which he has done it. We wish him the very best for the future."

Mather said his role had been the greatest privilege of his career.

“It's an outstanding business and I want to thank every one of the wonderful employees who have helped to create the successful company that it is today.

"Nathan [Coe] has effectively been running the business alongside me since 2017. He is more than ready to lead the company and I am proud and lucky to have worked with him. I look forward to supporting the team over the coming year, and to watching Auto Trader's continued success beyond that."