Edinburgh-based John Menzies plc, the global airport services firm, said on Friday Dermot Smurfit will step down as chairman and be succeeded by non-executive director Philipp Joeinig with immediate effect.
Menzies said: “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.”
Menzies said 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 choicefor 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.”
Smurfit said: “I have greatly enjoyed my time with Menzies during which we have delivered on a number of keycorporate 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.”
Joeinig 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 ourshareholders.”