Itochu: Kwik-Fit and Stapleton’s to remain separate

The Itochu Corporation has sought to re-iterate its position that its Kwik-Fit retail business and its Stapleton’s wholesale operation will be run as “entirely separate entities.” Answering questions raised widely within the market following the appointment of Stapleton’s MD Kenji Murai as Kwik-Fit head, an Itochu representative explained: “Subsequent to the recent departure of Kwik-Fit CEO Ian Fraser, Kenji Murai is temporarily leading both Stapleton’s and Kwik-Fit. This is an interim measure that was forced upon us. We can confirm that the two businesses will continue to be run individually and an announcement regarding the organisational structures of both companies will be made within the coming few weeks.”

According to the official statement emailed to Tyres & Accessories, “each business will maintain its respective authority and will be run by a different CEO and senior management team. Existing policies and strategies will also remain unaltered.”

Related news:

• Comment: A change will do you good?

• Stapleton’s MD Murai now in charge at Kwik Fit

• Itochu officially completes Kwik Fit Group purchase

• Report: Itochu Buys Kwik-Fit for £637 million

• Kwik-Fit confirms Itochu is new owner