Stobart Group Limited Board Changes (0360Z)
15 Maggio 2019 - 8:02AM
UK Regulatory
TIDMSTOB
RNS Number : 0360Z
Stobart Group Limited
15 May 2019
15 May 2019
STOBART GROUP LIMITED
('Stobart Group' or 'the Company')
Board Changes
Stobart Group, the aviation, energy and civil engineering group,
is pleased to announce the appointment of David Shearer to the
Board as a Non-Executive Director and Chairman-elect, with effect
from 1 June 2019. David, who will join the Nomination Committee on
appointment to the Board, will take over as Chairman when Iain
Ferguson steps down from the Board at the conclusion of the 2019
Annual General Meeting (AGM). Andrew Wood, the current Senior
Independent Director, led the recruitment process supported by
leading independent search firm Russell Reynolds and he will also
step down from the Board at the conclusion of the AGM. Details of
the timing and location of the AGM will be announced in due
course.
David is an experienced independent director and corporate
financier. He is currently non-executive Chairman of Speedy Hire
plc, the Scottish Edge Fund and Aberdeen New Dawn Investment Trust
plc. He will stand down from the board of Aberdeen New Dawn
Investment Trust plc at the end of its September 2019 AGM.
David was previously the senior partner of Deloitte LLP for
Scotland and Northern Ireland, and a UK executive board member of
the firm. He has subsequently held the positions of co-Chairman of
Martin Currie (Holdings) Limited, Chairman of Mouchel Group plc and
Crest Nicholson plc and a Non-Executive Director of City Inn
Limited, in each case standing down after completing the successful
restructuring of these businesses. David was also Non-Executive
Chairman of Liberty Living Group plc and Liberty Living Finance
plc, Senior Independent Director of Renold plc, STV Group plc and
Superglass Holdings plc and Non-Executive Director of Mithras
Investment Trust plc.
Iain Ferguson, Chairman, Stobart Group, said:
"I am pleased to be handing over as Chairman to David after the
next AGM. He has considerable experience which will help Chief
Executive Warwick Brady and the team to implement the Group's
strategy and deliver our ambitious growth targets.
"I would also like to thank Andrew Wood for his wise counsel and
for the significant contribution that he has made to Stobart Group
as Senior Independent Director and Chair of the Audit Committee
since he joined the business in 2013.
"Stobart Group is a much-changed business since I joined six
years ago, and one that is now very focused and well-positioned to
deliver value to shareholders. Over the last year, we have
strengthened the Board, adding more expertise, and ensuring
shareholders continue to have a strong independent voice. I wish
David, Warwick and all their colleagues every success in the
future."
David Shearer commented:
"I am delighted to be joining the Board of Stobart Group as it
executes its strategy. Two things are clear to me. Firstly, that
Stobart Group is successfully growing two excellent businesses:
aviation and energy. Secondly, that there is a need to unify the
shareholders behind the strategy. I look forward to working with
Warwick Brady and the Board in growing long-term value for all
shareholders."
The Company confirms that there is no further information
required to be disclosed pursuant to paragraph 9.6.13 of the UK
Listing Rules.
Enquiries:
Stobart Group Limited C/o Newgate Communications
Charlie Geller, Head of Group Communications
Newgate Communications +44 203 757 6880
Robin Tozer stobart@newgatecomms.com
Ian Silvera
Fiona Norman
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END
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