Home news AA appoints new boss amid jump in profits

AA appoints new boss amid jump in profits

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The AA has appointed Expedia co-founder Simon Breakwell as its new boss as it reported a leap in profits and membership.

Mr Breakwell has been serving as acting chief executive following the sacking of Bob Mackenzie in August for “gross misconduct”.

On Tuesday, the road assistance firm said that half-year pre-tax profits rose from £48m to £80m.

Revenues were up from £467m to £471m, while trading profit edged up from £192m to £193m.

There was also a 13% increase in new members to more than 3.3 million, while motor insurance policy numbers grew by 8% to 616,00.

Looking to the future, the company said it would continue to focus on improving customer experience.

“We are encouraged by the significant opportunities for growth within our insurance businesses and expect to invest to take advantage of this,” it added.

Mr Breakwell, who has been on the board of the AA since 2014, said he was “reviewing what the business needs to deliver its potential”.


Source: SKY