Hyde sells majority shareholding
Grogan: ex-Mars and ex-VW Audi
Eddie Hyde who, with Keith Musto, founded Musto & Hyde in 1965, has sold the majority of his shares in the company to Nigel Grogan, who has been a consultant to the company for the past two years.
I believe that Nigel can not only enable the company to continue to expand but that he will also extend the brand into other commercial areas, he added.
Grogan is a law graduate who began his business career with the Mars Corporation before setting up a chain of VW and Audi dealerships which he sold in 2003. He has since been taking on new challenges, including consulting for Hyde.
He is a keen sailor and owns a number of boats, from an OK dinghy to Squibs and Melges, as well as cruising in his Bénéteau 50.
Hyde has retained a stake in the company. He will no longer be a director but is retained as a consultant.
The company will remain based on the Hamble River with offices and a new service facility in Swanwick.
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