Car Dealership Tycoon Ousted in Alleged 'Coup' Over Racist and Sexist Remarks
A multimillionaire used-car salesman was forcibly removed from his £300 million company as part of an orchestrated "coup" involving business rivals and private equity investors, the High Court has heard. Peter Waddell, 59, claims he was ousted as chief executive of Kent-based dealership Big Motoring World by "conspirators" who designed a plan to ensure an investigation into gross misconduct allegations reached a conclusion that justified his dismissal.
Allegations of Racist and Sexist Conduct
Waddell is alleged to have made a series of racist and sexist remarks, including referring to a Hindu colleague as "Hyundai," according to court submissions. The tycoon, who remains the majority shareholder, either denies making these remarks or asserts they were taken out of context. His backstory includes a childhood spent in care and a period of homelessness before achieving business success.
Big Motoring World, under Waddell's leadership, grew to employ 525 people, with revenues of £371 million and profits of £6.6 million in 2021. This track record attracted private equity group Freshstream, which acquired about a third of the business in April 2022, with an option to eventually buy out Waddell's remaining shares.
Claims of a Plot to Seize Control
Waddell, who is deaf and has dyslexia, argues that a downturn in the company's trading prompted his investors and colleagues to devise a scheme to wrest control from him. He claims this culminated in a conduct investigation during which he was never interviewed. Alan Gourgey KC, representing Waddell, stated that the actions taken by Freshstream and Big Motoring World in March and April 2024 were invalid, leading to Waddell's wrongful exclusion and removal from the group.
At the start of 2024, Freshstream and Big Motoring World management initiated an investigation into accusations concerning Waddell's interactions with staff, customers, and business partners. George Spalton KC, representing Freshstream partner Reza Fardad, countered that Waddell was promoting a narrative of an 18-month plot to oust him, ignoring his "egregious misconduct." Spalton emphasized that the allegations against Waddell were of the most serious kind, including sexism and bullying.
Witnesses and Legal Battles
The Hindu colleague allegedly targeted by a racist remark is among several sources whose allegations were cited in the company investigation and who will appear as a witness for Waddell, according to written submissions. James Laddie KC, for the Big companies, suggested that Waddell had successfully dissuaded some people from giving evidence and turned others against the investigation. He argued that given the volume of complaints, it was inconceivable that witnesses had entered into a coordinated plan.
The trial continues, with ongoing legal proceedings examining the validity of Waddell's removal and the nature of the allegations against him.
