Tim Parker To Be Kwik-Fit Chief Executive

CVC Capital Partners has appointed Tim Parker (46) as Kwik-Fit Chief Executive. Parker is currently CE of Clarks, the shoe manufacturer, which he is credited with turning around by cutting costs and increasing outsourcing. Reports say that he will take an (unspecified) equity stake in Kwik-Fit once the deal is completed, which CVC says will take “a few weeks” but will happen by the end of the year.