John Menzies plc – parent company of Menzies Aviation – has announced that Dermot Smurfit has notified the board of his intention to step down as chairman and is being replaced by an aviation specialist.
Philipp Joeinig, a current non-executive director of the Group, will succeed Smurfit (pictured below) as chairman and both of these changes are with immediate effect.
Smurfit joined the board in July 2016 and oversaw the $202 million 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 said its transformation is now complete and Menzies is a “pure aviation services business” that is well placed to prosper in the fast-moving aviation sector.
Menzies said incoming chairman, Joeinig brings a wealth of leadership experience and a deep understanding of the aviation services industry and has held number of senior executive roles within Swissport International Limited over a 10 year period, latterly as a member of the management board covering all Swissport businesses in Europe West, Central and East.
In addition to the above changes, the Group’s senior independent director, David Garman, will become deputy chairman and will work closely with Joeining with a particular specialism around UKLA and general UK related governance matters due to his extensive plc experience.
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 our shareholders.”