LONDON, July 19 (Reuters) - Britain's John Menzies said on Tuesday it had appointed paper industry executive DermotF Smurfit as independent chairman, answering a key demand fromnew activist investor Shareholder Value Management (SVM).
SVM, which holds more than 7 percent of the distribution andairport services firm, demanded more independence on the boardof the company earlier this month when it also joined calls forthe business to be broken up.
The German activist investor complained that current interimchairman Dermot Jeckinson had connections through his wife tothe Menzies family, which control about 19 percent of thecompany through various holdings.
Smurfit, who has extensive experience in the JeffersonSmurfit paper products group and is chairman of Powerflute, will join John Menzies on July 25, the company said. (Reporting by Paul Sandle; Editing by Mark Potter)
