12 July 2019
John Menzies plc
John Menzies PLC (the "Group"), the global Aviation services business, today announces that Dr Dermot F Smurfit has notified the Board of his intention to step down as Chairman of the Board. Philipp Joeinig, a current non-Executive Director of the Group, will succeed Dermot as Chairman and both of these changes are with immediate effect.
Dr Smurfit joined the Board in July 2016 and oversaw the $202m transformational acquisition of ASIG Ltd, successfully sectioned the defined benefit pension scheme and, most recently, completed the sale of Menzies Distribution, exiting the Group from the print media logistics sector.
Following the Distribution sale, the Group's transformation is now complete and Menzies is a pure play Aviation Services business that is very well placed to prosper in the fast-moving aviation sector.
The incoming Chairman, Philipp Joeinig brings a wealth of leadership experience and a deep understanding of the Aviation Services industry to the Board. Philipp has occupied a number of senior executive roles within Swissport International Limited over a ten year period, latterly as a member of the management board covering all Swissport businesses in Europe West, Central and East. Philipp will draw on this extensive leadership and industry experience and will work closely with the Board and the Executive team to ensure the Group delivers on its objectives to become the service provider of choice for it's customers.
In addition to the above changes, the Group's Senior Independent Director, David Garman, will become Deputy Chairman and will work closely with Philipp with a particular specialism around UKLA and general UK related governance matters due to his extensive plc experience.
Dr Smurfit commented:
"I have greatly enjoyed my time with Menzies during which we have delivered on a number of key corporate and financial objectives. I wish the Group and its 36,000 employees the very best for the future as it embarks on the next stage of its journey. I believe that this now requires an industry specialist to bring Menzies to a new level of excellence. I wish my successor, Philipp Joeinig every success in that mission."
David Garman, Senior Independent Director, said:
"On behalf of the Board, we would like to recognise and record our sincere appreciation to Dr Smurfit for his significant contribution to our business. He has been an effective and excellent Chairman and we wish him well with his future endeavours."
Philipp Joeinig, incoming Chairman, said:
"I am very honoured to have been appointed to succeed Dr Smurfit as Chairman of John Menzies plc. I believe the Group has a very exciting future and I look forward to working with the Board and the management team as we look to progressively grow the business and deliver returns to our shareholders."
For further information:
John Menzies plc 0131 459 8018
Giles Wilson, Chief Executive Officer
John Geddes, Corporate Affairs Director
FTI Consulting 0203 727 1000
Jonathon Brill/Alex Beagley/Fern Duncan
Notes to Editors:
1. John Menzies plc is one of Scotland's largest companies where success depends on providing an efficient, high quality, time-critical service to their customers and partners. The company was established in 1833 and its head office is in Edinburgh. Today the company is an international aviation services business with operations worldwide.
2. Menzies Aviation is a leading global provider of passenger, ramp and cargo services. Menzies Aviation operates at 219 airports in 37 countries, supported by a team of some 33,000 highly-trained people. Each year Menzies Aviation serves some 1,000 customers, handling 1.4 million flights, 1.6 million tonnes of cargo and fuelling 4 million turnarounds. Customers include Air Canada, Air France-KLM, American Airlines, Cathay Pacific, Delta Air Lines, easyJet, Emirates, Frontier Airlines, IAG, Lufthansa, Norwegian Air Shuttle, Air Canada, United Airlines and China Airlines. Best in class safety and security is the number one priority each day and every day.
3. Menzies Aviation operates in a structural growth market, which has strong out-sourcing trends as well as progressive market growth. As a global player in the aviation services market Menzies is well placed to be a leading player as the market continues to professionalise and will continue to embrace and develop new technologies to provide market leading service.