The announcement of Jim Wilkinson’s exit as CEO of Manchester-based car finance company Zuto was in keeping with the man.
The father-of-three preferred to lavish praise on his successor, Aimee Gethin, rather than talk about his own role in growing Zuto to the brink of being a £100m turnover business.
Today, one in 16 used cars in the UK are financed through Zuto’s platform and much of the credit goes to Wilkinson and his vision.
Instead, he said the new CEO had been ‘instrumental in Zuto’s growth’ and praised her ‘clear and ambitious vision’ for the company going forward.
“This next chapter belongs to Aimee and the team,” he said. “I’m looking forward to seeing Aimee and the team take it to new heights.”
The company’s story dates back to 2006, when Wilkinson and his friend Ryan Dignan set up Car Loan 4U, later rebranded as Zuto, to transform the world of car finance.
But his successful career as a founder may never have happened were it not for a chance encounter with a Manchester United player called Luke Chadwick.
Wilkinson is the son of a dairy farmer and dreamt of being a footballer, but his hopes were dashed at 19 while playing for Rochdale reserves against a Manchester United under-23 side.
‘Skinned’
With Sir Alex Ferguson on the touchline, Wilkinson was repeatedly ‘skinned’ by United’s pacy winger Luke Chadwick. He was substituted after 50 minutes and told soon afterwards that the club would be releasing him.
Aimee Gethin has been COO since 2020 and succeeds Jim Wilkinson as CEO
A few years later, Wilkinson, then 24, and Dignan, 22, launched Car Loan 4U and earned a commission on every approved car loan. Within two years, turnover had reached £1m.
However, the 2008 recession saw the company lose a couple of lenders and the duo resorted to selling cars for 12 months until the economy turned.
The bounce back was so quick that by August 2011 they set themselves a target of £6.2m turnover by February 2014, but ended up achieving £11.5m.
EY Entrepreneur of the Year
In 2015, he was crowned EY Entrepreneur of the Year and opened a head office in Manchester, where staff are referred to as ‘Zutonites’ and ‘Zutopia’ is where they work.
Wilkinson’s priorities changed with the birth of his teenage son Jimmy.
He has a genetic disorder called Prader-Willi syndrome (PWS), which means people with the condition are permanently hungry.
Typical symptoms include learning difficulties and behavioural problems, including temper tantrums.
The condition gained prominence through reality TV star and former model Katie Price talking about her son Harvey, who has Prader-Willi syndrome.
Wilkinson, who also has two young daughters, completed the London Marathon in 2016 for the Prader-Willi Syndrome Association.
In an interview with me in 2021, Wilkinson admitted: “Looking back, if I could tell my 20-something self back then, it would be that business isn’t a linear journey.
“As a startup you can think you have to do it all now and that there’s an urgency to win, but doing the right thing is more important.”