viewStobart Group Ltd

Stobart shares stall as it unveils more changes at the top


Shares in Stobart Group (LON:STOB) dropped in early deals after the haulier unveiled yet more changes in its boardroom.

On Friday, the logistics giant, famed for its distinctive lorries, named Iain Ferguson - a former CEO at Tate & Lyle - as its new chairman with effect from October 1.

He will replace interim chairman Paul Orchard-Lisle, who will step down along with former chairman Rodney Baker Bates in due course, the firm said.

It follows the abrupt departure of previous chairman Avril Palmer-Baunack in April who lasted just ten weeks after a reported bust-up with chief executive Andrew Tinkler, chief operating officer William Stobart, son of founder Eddie and Tinkler’s brother-in-law, and finance chief Ben Whawell.

That was after the firm left the FTSE 250 following a sharp decline in its share price.

In January, Baker-Bates was ousted as chairman in a shareholder-backed move.

Today, chief executive Andrew Tinkler said Ferguson would "provide the group with experienced leadership at a pivotal point in its development".

The news came alongside a trading update in which it warned there would be some exceptional costs from the restructuring of Autologic and the board changes.

Shares dropped 5% to 110.75p.

Quick facts: Stobart Group Ltd

Price: 66.2 GBX

Market: LSE
Market Cap: £248.02 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Stobart Group Ltd named herein, including the promotion by the Company of Stobart Group Ltd in any Content on the Site, the Company receives...



Morning Report: FTSE 100 unsettled by Whitbread rights issue and spike in...

Headlines from the Proactive UK newsroom. The FTSE 100 slipped early unsettled by Whitbread’s rights issue and a spike in coronavirus cases overseas. The index was down 35 at 6,031 early doors. Whitbread is to raise £1bn through a rights issue at 1,500p, a thumping 47% discount to last...

1 week, 6 days ago

2 min read