John Menzies appoints new Chairman

John Menzies, the Scottish distribution and aviation company, have announced the appointment of Dr Dermot F Smurfit as its new chairman on Tuesday.

Dr Smurfit is currently chairman of Powerflute and ML Capital as well as a non-executive director of Timber Capital and The Forest Company Limited. He held a number of positions at the Jefferson Smurfit Group and was then Deputy Chairman and World vice president of sales and marketing. His appointment will be made official at the board’s next meeting on 25 July 2016.

He said he looks forward to “assisting the group in achieving growth in the coming years.”

The current chairman Dermot Jenkinson said that he was “delighted to be able to appoint a chairman of the calibre of Dr.Smurfit” and he was “confident that [he] will be a great asset to the group”. Jenkinson will continue to be on the Board as a non-executive director after Smurfit’s appointment.

"Throughout its history Jefferson Smurfit Group Plc has been a successful organic growth company, however it has also driven growth through a series of acquisitions in overseas markets. We believe, that this kind of executive experience will stand John Menzies in good stead as it considers its options in a rapidly changing UK distribution market and the consolidating but structural growth market that is global aviation services," Shore Capital's Martin Brown said in a research note sent to clients.

Shares in John Menzies finished the session 0.51% lower at 591.0p.