More board upheaval
Menzies loses another CEO as Wilson joins distiller
Menzies board has restructured again
Airport services group John Menzies has lost its third CEO in four years after Giles Wilson announced he was leaving to join a whisky distiller.
Mr Wilson, who will become chief financial officer at William Grant & Sons, had been interim CEO at Menzies following the surprise departure of Forsyth Black in March 2019. He was appointed permanently last June, tasked with overseeing £10 million of cuts.
Mr Black replaced Jeremy Stafford who resigned in 2016 for what were described as personal reasons after just 15 months in the post.
Mr Wilson joined Menzies in 2011 and was appointed CFO in June 2016. He will leave at the end of August to join Glenfiddich owner William Grant & Sons.
Menzies will revert to an earlier executive structure without a CEO. Chairman Philipp Joeinig will take a more “active” role in overseeing the group with members of the senior executive team directly reporting to him.
The company said its senior executive team including its chief operating officer and chief financial officer will increase their duties.
The senior executive team will now consist of Mervyn Walker, Chief Operating Officer, Alvaro Gomez-Reino, Chief Financial Officer and John Geddes, Corporate Affairs Director who will increase their duties as required and will each report directly to Mr Joeinig.
The group has initiated a search for an independent non-executive director to ensure a majority of independent directors exists. In addition, with immediate effect David Garman, deputy chairman, will become chair of the Nomination Committee.
Mr Joeinig said: “I would like to record my thanks to Giles who has made a substantial contribution to the Group over the last 9 years. He leaves us with our very best wishes, and I am sure he will be a great success in his new role.
“I remain excited about the future for Menzies. We are a very strong market participant with excellent prospects as the sector begins to recover.
“As we announced earlier this week our medium-term liquidity position is secure and we look forward to building our business back up as flying schedules return.
“Our outlook is positive, and we have an excellent, experienced leadership team who will drive our ambitious growth agenda.”