Online car marketplace Cazoo has appointed Stephen Morana as its chief financial officer (CFO), with Morana starting the role in mid-July.
Morana brings a wealth of experience to the new role, floating two UK digital businesses in recent years – Betfair and Zoopa, with both achieving multi-billion pound valuations. Morana was also on the board of Boohoo when it went public and currently sits as the senior independent director a gambling firm GVC.
Cazoo recently secured a further £100m in investment, taking the total raised to more than £180m since the company launched in December 2019. The company also announced this week that it will be the main partner and shirt sponsor of Premier League football club Everton.
Morana will join the Cazoo board of directors and executive team, reporting directly to founder and chief executive Alex Chesterman.
Commenting on his appointment, Morana said: “What Cazoo has achieved in under a year is incredible and I’m really looking forward to joining the team.
“I have been lucky to work for some amazing businesses and wasn’t planning to take another full time role but, having worked with Alex before, I know that he is building a world-class operation with Cazoo that will transform the way people buy used cars in the UK by providing consumers with better selection, value and convenience. I can’t wait to get started.”
Chesterman added: “I am delighted to welcome Stephen to Cazoo and to be working with him again. His track record and experience are second to none and he will be a great addition to our team. There is nobody who has had greater exposure to some of the UK’s most successful digital businesses over the past decade and he will play a key role in helping to deliver on our ambition of creating the best car buying experience in the UK over the coming years.”