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Iain Ferguson, Chairman Of Stobart Group

Stobart Group announces senior appointments

Published on: Thursday 23rd August 2018

Stobart Group has announced three senior appointments to its management team.

Nick Dilworth has been promoted from group commercial director to chief operating officer, and appointed to the board as an executive director.

He joined Stobart Group in November from BES Utilities, where he was managing director.

Ginny Pulbrook, a partner at Capital Market Communications, will join the board as a non-executive director from October.

She brings more than 30 years' experience as a board level adviser to quoted companies in the infrastructure, industrial and support services sectors.

She spent 26 years at one of the UK's leading public relations firms, Citigate Dewe Rogerson, which she also co-founded.

Michael Williamson is appointed as interim chief financial officer, but will not be formally joining the board.

He replaces Richard Laycock, who resigned as chief financial officer last month.

Mr Williamson has extensive experience working across international markets in sectors such as financial and professional services, real estate, transport, technology, retail, consumer goods and healthcare, and successfully completing corporate transactions.

Ginny Pulbrook

The appointments are part of a series of actions which the group says will provide a "stable framework" of strong corporate governance focused on protecting the interests of all shareholders.

Stobart Group will also appoint a new non-executive chairman, a new senior independent director and at least one more non-executive director ahead of their 2019 AGM.

Last month, the company announced it was appointing a specialist firm to help "shake up" the board, following months of bitter wrangling between group bosses and its former chief executive and board director Andrew Tinkler.

Mr Tinkler – with two other major shareholders, Allan Jenkinson and funds acting through Woodford Investment Management Limited – led a push for Edinburgh Woollen Mill boss Philip Day to replace Mr Ferguson, after accusing him of moving away from an agreed strategy for the group.

But Mr Day’s nomination was put on hold indefinitely following a fractious AGM that saw Mr Tinkler axed from the board for a second time after shareholders voted to reinstate him.

Just days after meeting in Guernsey, Stobart Group bosses revealed its plans to refresh the board, secure further investment in the company and explore “other options” that included buying-out Mr Tinkler’s seven per cent stake – a move he flatly rejected.

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