New CEO for 2 Cheap

New Zealand Automotive Investments (NZAI) has appointed Paul Millward as its new chief executive officer and he will take up his role early next year.

Millward, pictured, joins the parent company of 2 Cheap Cars after spending 12 years with DB Breweries Limited (Heineken NZ) where he was New Zealand sales director since 2017. 

Previously, he gained experience in sales and finance roles in fast-moving consumer goods (FMCG), retail and medical businesses in New Zealand, England, the US and Denmark.

NZAI announced the appointment in a statement to the NZX on December 7. It notes Millward was a member of the executive leadership team at DB Breweries responsible for 130 staff and revenue of circa $750 million. 

“Under his leadership, market share, return on sales and EBIT [earnings before interest and taxes] margins all increased significantly,” the statement says.

“Millward has a proven ability to lead and develop successful teams and build relationships with customers. He also brings a sharp commercial focus to building brands and market penetration.”

Michael Stiassny, NZAI’s chairman, adds the board is pleased to welcome Millward to the company. 

“He is focused, ambitious and his sales, marketing and leadership experience in the fast-paced world of FMCG will translate well to the automotive industry. We are confident he will bring exceptional strength to the NZAI team.”

Millward’s appointment follows a year of upheaval for the business after four directors, its CEO and auditor resigned earlier in the year.

He will join NZAI on January 9 and following a handover, interim chief executive officer Gordon Shaw will rejoin the board as an independent director.