Nick Hewitt: AA executive at heart of firm’s purchase and float on sick leave

Nick Hewitt, part of the AA management buy-in dubbed Project Palindrome, is on leave
AA executive director Nick Hewitt is taking a leave of absence from the company due to ill health, the roadside assistance firm announced yesterday.

A statement from chairman Bob Mackenzie said Hewitt will be obtaining essential medical treatment until further notice, but is expected to be absent for at least three months.

“We wish Nick a speedy recovery. In the meantime Nick’s role will be covered by [chief financial officer] Martin Clarke and myself, supported by the senior management team,” he wrote.

Hewitt, who is a former PricewaterhouseCoopers executive, helped lead the acquisition and flotation of the 109-year-old business, aided by fellow dealmakers Clarke and Mackenzie.

The AA became public in June last year in a fast-track placement after the three-man management buy-in team, backed by cornerstone investors including BlackRock and Aviva, bought the group from its previous private equity owners, Acromas. The company was valued at £1.4bn.

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