Clarks chief to join Kwik-Fit

Tim Parker: from heels to wheels

The head of UK shoe maker Clarks is leaving to head up the Kwik-Fit car repair business.

Tim Parker will become chief executive of the company, which was formed to buy Kwik-Fit from its current owners Ford.

On Monday, Ford announced it was selling the car repair business to private equity group CVC Capital Partners for £330m.

The sale represented a big loss for the car maker, as it bought Kwik-Fit for £1bn in 1999.

Experience

CVC said Mr Parker would work with chairman Sir Trevor Chinn to develop Kwik-Fit as an independent company.

Kwik-Fit employs more than 11,000 people

"We are delighted that Tim Parker will be joining the senior management team," Sir Trevor said in a statement.

"Tim will bring a wealth of retail and brand experience to the business, as well as the senior level counsel of an experienced CEO."

Before running Clarks, Mr Parker was the chief executive at the domestic goods firm Kenwood Appliances, and oversaw its flotation on the London Stock Exchange in 1992.

Big operation

Kwik-Fit is Europe's largest car repair and maintenance chain.

It operates 2,500 service centres and employs more than 11,000 people.

Ford sold Kwik-Fit as part of its current strategy of shedding non-core operations to concentrate on its basic car-making business.

But Ford will be keeping a 19% stake in the new firm running Kwik-Fit, so it can benefit from any growth in the business.