BEC & CALL
NEW ROLE FOR CAR QUEEN
REBECCA Frizelle, titan of the automotive industry and a driving force behind one of the Gold Coast’s most successful businesses, is exiting her role.
On Friday, Ms Frizelle will step down as chief operating officer of Frizelle Automotive Prestige, changing lanes to work in a non-executive position with the board of Peter Warren Automotive, the parent company of Frizelle Sunshine – one of the biggest private dealerships in the country.
While her decision is fuelled by the desire to spend more time with family and in her other roles – including as co-owner of the Gold Coast Titans NRL team and positions on the boards of Sunland Development, Life Flight Australia, Paralympics Australia and Griffith University – it also comes as the automotive group gears up for further growth.
Frizelle Sunshine, as part of Peter Warren Automotive, is considering a public float that is expected to be valued up to $1bn, making it Australia’s third listed car group.
PWA is the merger made in 2017 of nine Peter Warren dealerships in Sydney and Queensland and 11 sites of James Frizelle’s Automotive Group in Queensland together under the umbrella of equity capital investor Quadrant Private Equity. A roadshow is under way for investors to outline the proposal, with a view to listing the company around the middle of this year. Ms Frizelle said PWA shareholders, including herself, were considering additional sources of capital for growth, but that “no formal decision has been made regarding any potential IPO”.
Meanwhile, she said the change in her role would allow her to concentrate more on the future of the business.
She said she was looking forward to the growth and expansion opportunities and the potential to further diversify their automotive footprint.
“It’s going to be a big change, but I’ll still be very committed to the ongoing success of the business. I’ll just be operating in a different capacity – I’ll be focusing on the longer term, big picture rather than the day-to-day operations,” Ms Frizelle said.
“We have a wonderful business with highly experienced, very capable people and we enjoy a strong partnership with our chairman, Paul Warren.
“The change in my role will give me an opportunity to explore new options not just for the company but myself as well. I’m looking forward to less time in the office and more time with family and friends – and finding a new work/life balance.”