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Stobart appoints interim finance chief after boardroom row

Thu, 23rd Aug 2018 09:11

(Sharecast News) - Stobart Group has appointed an interim finance chief and two directors as the infrastructure group seeks to rebuild its board after a bitter bust-up. Michael Williamson will become interim chief financial officer on 10 September, replacing Richard Laycock who left the FTSE 250 company in July. Williamson, who had been standing in as CFO at Gama Aviation, will not join the board.Nick Dilworth, currently group commercial director, will join the board as chief operating officer on 1 September. Stobart has also recruited Ginny Pulbrook, who will become a non-executive director on 1 October.The owner of Southend airport has been looking to rebuild its board after a dispute in which former chief executive tried to depose chairman Iain Ferguson, triggering legal accusations from both sides. The dispute highlighted wider issues with Stobart's governance.Pulbrook works at Camarco, a public relations firm, and spent 26 years at rival communications adviser Citigate Dewe Rogerson, which she co-founded. Stobart had been criticised by the Investment Association for not having a woman on its board.Ferguson said: "We have moved quickly to strengthen the board. Nick has already supported the commercial progress of the Company through his work with the leadership teams of our operating divisions. Ginny will add further commercial insight as well as bringing significant experience of providing strategic advice to the Boards of some of the UK's largest companies. Michael, who has considerable PLC experience, will oversee the Group's finance function."The company is still looking for a new non-executive chairman, a senior independent director and at least one more non-executive director.
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UPDATE 2-FTSE 100 underperforms global peers on 3i drop, sterling gains

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14 Nov 2019 09:08

UPDATE 1-FTSE inches lower as 3i drop offsets Burberry surge

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14 Nov 2019 08:18

UPDATE 1-Stobart Group shares drop after suspending dividend; posts wider loss

(Adds details on results, dividend and shares)Nov 14 (Reuters) - British airport operator Stobart Group suspended its dividend to conserve cash and reported a bigger first-half loss on Thursday, hurt by impairment charges, sending its shares down ...

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7 Nov 2019 16:12

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16 Oct 2019 18:09

Haulier Eddie Stobart says buyout talks with DBAY continue, Tinkler drops out

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9 Oct 2019 10:07

Stobart Signs Import & Export Services Contract For Southend Airport

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7 Oct 2019 18:46

Haulier Eddie Stobart's shareholder DBAY gets more time to make bid

Oct 7 (Reuters) - Eddie Stobart Logistics Plc said on Monday DBAY Advisors Limited, its third-largest shareholder, has been granted more time to make a firm takeover offer for the haulage company, and that their talks are ongoing.The UK takeover p...

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25 Sep 2019 10:45

Stobart trading in line as Southend passenger numbers grow

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18 Sep 2019 10:39

PRESS: Former Stobart Chief Tinkler Mulls Eddie Stobart Offer - Sky

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