Denis Gorteman will succeed Thierry van Kan as CEO of D’Ieteren’s automobile distribution division D’Ieteren Auto. Denis Gorteman, 46, has spent his entire professional career at D’Ieteren, mainly at D’Ieteren Lease of which he was general manager until 2008. Over the last three years, Denis led multinational initiatives focussing on customer satisfaction and operational flexibility at Belron, the global leader in vehicle glass repair and replacement. After 22 years at D’Ieteren Auto, Thierry van Kan, 62, has decided to step down as its CEO in December in order to devote his time primarily to the Belgian Automotive Industry Association (FEBIAC), of which he has just been elected chairman, succeeding Pierre Alain De Smedt.
No impact on our investment case. Unchanged BUY rating.