John Menzies PLC, holding company of Menzies Aviation, has announced the intention of its chairman of the board, Dr Dermot F Smurfit, to step down with immediate effect.
Joining the board in July 2016, Dr Smurfit’s achievements include the $202 million procurement of ASIG Ltd, sectioning of the benefit pension scheme and selling Menzies Distribution, the group’s print media logistics arm.
“I have greatly enjoyed my time with Menzies during which we have delivered on a number of key corporate and financial objectives,” said Dr Smurfit.
“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.”
Dr Smurfit is to be replaced by Philipp Joeinig, a current non-executive director or the group, who also worked at Swissport International Limited over a ten year period, including businesses in Europe West, Central and East.
“I am very honoured to have been appointed to succeed Dr Smurfit as Chairman of John Menzies plc,” said Joeinig.
“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.”