SSP Group has this morning announced that Kate Swann has decided to step down from her role as Group Chief Executive Officer on 31 May 2019. Swann’s departure announcement, after more than five years at the helm of the company comes the same day that full year operating profits were reported up 22%, and a further special dividend of circa £150m was announced.
Swann will be succeeded by Simon Smith, currently Chief Executive Officer UK & Ireland. Smith has with immediate effect joined the PLC Board and will be appointed as CEO on 1 June 2019. He will work closely with Kate Swann during the next six months to ensure a smooth transition.
Kate Swann visiting Euston Station with Simon Smith to her rightKate Swann, Group Chief Executive Officer, said:
“Today we’ve announced another record set of results, growing earnings a further 24% and proposing £150m return of cash to shareholders, so I am stepping down at a time when the business is clearly in great shape, with a strong senior management team and enormous future growth potential.
“It’s been a privilege to work with the many talented people that make up the SSP team and who have contributed to making it a world class business. I look forward to working closely with Simon in the next six months to ensure a smooth handover, and I am confident that he will lead the Group to even greater success in the future.”
SSPs Group Chairman, Vagn Sorensen said:
“It has been a pleasure to work with Kate, and on behalf of the Board I want to thank her for her enormous contribution to the Group. In the past five years, Kate has transformed SSP into an industry leading Food Travel Retail business, which has grown significantly around the world, and she has generated significant returns for our shareholders.
“Succession planning is deeply embedded into the Group and following a thorough process, we are delighted with Simon’s appointment. Simon joined SSP Group in 2014 and has contributed significantly to the performance of the Group as CEO of UK & Ireland for the past four years.
“Since joining, Simon’s role has expanded, and he has taken on wider global leadership responsibilities, most recently looking after the integration and development of our joint venture business in India, which has delivered excellent results. Simon’s strong leadership skills combined with his considerable experience in the food travel and retail space, as well as his track record at SSP, make him well placed to lead SSP to continued future success. Simon will work alongside our CFO Jonathan Davies who has provided excellent support to Kate and will continue to bring his wealth of experience to the Board.”
Simon Smith, UK Chief Executive Officer, said:
“I am delighted to be appointed as SSP’s next Group CEO. SSP is a fantastic business with excellent on-going growth potential. We have a strong senior management team and thousands of dedicated colleagues around the world, and I am confident that together we will continue to build on the success achieved. I look forward to working closely with Kate over the next six months to ensure a smooth transition.”