July 12 (Reuters) - John Menzies Plc said on FridayChairman Dermot Smurfit will step down after the aviationservicing company named industry veteran and non-executivedirector Philip Joeinig to the role as the sector goes through atough period.
The reshuffle at the company follows a warning earlier thismonth that earnings would not grow in 2019 as it battles weakcargo volumes, cuts in flight schedules and a difficult labourmarkets in North America.
European airlines have also warned of a challenging marketin terms of passenger numbers even as cargo volumes stagnate.
Menzies, which offers ground handling, fuelling and cargohandling services for airlines, is also considering strategicand structural options and has appointed Swiss private equityfund manager Christian Kappelhoff-Wulff to its board.
Incoming chairman Joeinig has held a number of leadershiproles in the industry, including senior executive roles withinChinese-owned aviation services company Swissport Internationalover a ten year period.
The company also said it has appointed senior independentdirector David Garman as deputy chairman to work closely withJoeinig.
Menzies became a pure-play aviation business after it agreedto sell its newspaper distribution business to a private equityfirm last year, buckling to long-time pressure from investorsKabouter Management LLC, shareholder Value Management andLaskestreet.(Reporting by Samantha Machado and Noor Zainab Hussain inBengaluru; Editing by Arun Koyyur)