23 Nov 2016 07:00
23 November 2016
John Menzies plc
("John Menzies" or the "Group")
Board and Senior Management Changes
& Trading Update
Board and Management changes
The Board is pleased to announce some key management changes that will strengthen the Group's senior leadership team as we continue to evolve to support our future plans.
With immediate effect, John Geddes, currently Group Company Secretary, is appointed to the Board as Corporate Affairs Director. John, who has extensive knowledge of both operating divisions, has been with the Company for 19 years where he has fulfilled a number of head office roles and also spent two years working within the Aviation division. Following his appointment, he will continue to support the Board and his executive colleagues as well as focusing on the key areas of governance, risk and shareholder relations.
In addition, the Board is also pleased to announce that on 1 November 2016, Andy Lord joined Menzies Aviation as EVP, Europe, Middle East, Africa & India. With over 25 years' experience of the aviation industry, Andy adds great strength to the senior leadership team. His executive career prior to Menzies was spent with British Airways where he performed a number of senior roles and latterly was Director of Operations for the airline. He has also held non-executive positions with NATS & BA Cityflyer.
A further announcement regarding the leadership team of the Distribution division will be made imminently.
There are no further details to be disclosed under 9.6.13 of the Listing Rules.
Current Trading
Following the announcement of our agreement to acquire ASIG on 16 September 2016, the Group has signed the new syndicated bank facility of a $250m term loan and a £150m rolling credit facility. The new facility remains subject to the completion of the acquisition which is expected to complete in early 2017.
The Group continues to trade well and the Board is confident of being marginally ahead of current market expectations. Additionally, the Group continues to benefit from foreign exchange tailwinds which will further enhance the full year result.
The Board anticipates providing an update on trading and the financial performance for the year ending 31 December 2016, in early January.
For further information:
John Menzies plc Giles Wilson, Chief Financial Officer John Geddes, Corporate Affairs Director
| +44 131 459 8018 |
FTI Consulting Jonathon Brill/ Alex Beagley / George Parker | +44 203 727 1000 |