Managing director buys half of Auckland City BMW
Collins Asset Management owner Beverley Collins is selling half of her 100% stake in Auckland City BMW to its managing director Ian Gibson and his wife Joanne.
Mr and Ms Gibson’s 50% shareholding includes the Auckland MINI Garage, Rolls-Royce Motor Cars Auckland and all associated operations.
“It’s an exciting development for Joanne and me. We are committed to the long-term success and stability of the company,” Mr Gibson, who began his automotive career in the mid-1980’s as a used vehicle dealer, says.
As a 50% shareholder of New Zealand’s largest BMW dealership, Mr Gibson says his vision includes growing this success further, adding that he sees BMW as an “unparalleled innovator and leader in automotive technology.”
“With the world changing to autonomous and electric vehicles, this is an incredible opportunity which I never thought would present itself.”
There are no changes planned for the current governance structure, with Keith Goodall and Mr Gibson remaining the two directors.
Collins bought a 50% stake from Bob McMillan in 2014.
That sale coincided with the retirement of Mr McMillan, who said at 72 he had “petrol running through my veins” for 52 years.