STOB.L Regulatory News (STOB)

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