Motor tycoon ‘ousted from £500m empire’

A motor trade tycoon was ousted as CEO from his second hand car empire in a planned ‘coup’, a court heard. Peter Waddell, 59, was controversially removed as CEO from Kent-based dealership Big Motoring World following claims of gross misconduct. He remains the majority shareholder of Big Motoring World but is unable to control the company he founded. Mr Waddell says the company has performed disastrously since he was replaced by new CEO Lawrence Vaughan who he accuses of being…