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RNS Number : 8958R
SSP Group PLC
01 November 2019
1 November 2019
SSP GROUP PLC
SSP Group plc (the "Company" or "SSP") is pleased to announce the appointment of Mike Clasper to succeed Vagn Sørensen as Chairman of the Company. Mike will join the SSP Board as an independent Non-Executive Director and Chairman designate of the Company on 1 November 2019.
Vagn Sørensen, who first joined the Board as Chairman in 2006 and led the Company through its IPO in 2014, will retire from the Company at the completion of the 2020 Annual General Meeting and Mike will then assume the role of Chairman. Mike will also serve as Chair of the Board's Nomination Committee with effect from 1 November 2019.
Mike is currently Chairman of Coats Group plc, which is listed on the main market of the London Stock Exchange. Between March 2014 and December 2018, he was Senior Independent Director of Serco Group plc. In addition to these positions, Mike has served on the boards across a wide range of businesses, including as Chairman of Which? Limited, Chairman of HM Revenue & Customs, Senior Independent Director of ITV plc, President of the Chartered Management Institute and Operational Managing Director at Terra Firma Capital Partners Limited. He was Chief Executive of BAA plc and before that he held a number of senior executive positions at Procter & Gamble.
Commenting on the appointment, Carolyn Bradley, Senior Independent Director and member of the Nomination Committee, said: "We are delighted that following a comprehensive search to identify the right individual to succeed Vagn, Mike will join the Board and become Chairman of the Company next year. He brings significant and relevant experience, in particular a deep expertise in the airport and aviation services industries following his time as Chief Executive of BAA plc. We look forward to welcoming him to the Board.
"I would like to thank Vagn Sørensen for the major contribution he has made to SSP, which includes guiding the business through a highly successful IPO and delivering consistent shareholder returns since then. His Chairmanship and knowledge of the business have played a significant part in the development of SSP and we wish him well for the future."
Vagn Sørensen, Chairman of the Company and Chair of the Nomination Committee, said: "It has been an honour to serve as SSP's Chairman for more than a decade. Having overseen the successful CEO transition to Simon Smith, I believe that with the business in great shape, with a clear and proven strategy and a sound platform on which to generate long term sustainable returns, it's the right time for me to step down."
Mike Clasper said: "It is an immense privilege to be asked to serve as Chairman of SSP. SSP is a fantastic business with excellent on-going growth potential. I look forward to working with the SSP team to realise this potential."
There is no other information to be disclosed under paragraph 9.6.13R of the Listing Rules.
For further information contact:
Helen Byrne, Company Secretary & General Counsel, SSP Group plc
+ 44 (0)20 7543 3300
Investor and analyst enquiries
Sarah John, Director of Investor Relations, SSP Group plc
+44 (0)20 3714 5251; E-mail: email@example.com
Peter Ogden / Lisa Kavanagh, Powerscourt
+44 (0)20 7250 1446; E-mail: firstname.lastname@example.org
SSP is a leading operator of food and beverage concessions in travel locations, operating restaurants, bars, cafés, food courts, lounges and convenience stores in airports, train stations, motorway service stations and other leisure locations. With over 50 years of experience, today we have more than 37,000 employees, serving approximately one and a half million customers every day. We have business at approximately 140 airports and 280 rail stations, and operate more than 2,600 units in 33 countries around the world.
SSP operates an extensive portfolio of more than 500 international, national, and local brands. Among these are local heroes such as Brioche Doree in Paris, LEON in London, and Hung's Delicacies in Hong Kong. Our range also includes proprietary brands created for the travel sector including Upper Crust, Cabin Bar and Ritazza, as well as international names such as M&S, Burger King, Starbucks, Jamie's Deli and YO! Sushi. We also create stunning bespoke concepts such as Five Borough Food Hall in JFK, New York and Norgesglasset Bar in Oslo Airport.
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(END) Dow Jones Newswires
November 01, 2019 03:00 ET (07:00 GMT)