Stobart Group reveals senior appointments in wake of boardroom bust-up

Stobart Group has announced three senior appointments.

They come in the wake of a boardroom battle in which former chief executive Andrew Tinkler tried to oust current chairman Iain Ferguson at the group’s annual general meeting in Guernsey in July.

Within days of the acrimonious meeting Mr Ferguson pledged to step down before next year’s AGM, and to bring fresh blood into the boardroom.

This morning the Carlisle-based group announced that Nick Dilworth will be appointed to the board as an executive director, and promoted from group commercial director to chief operating officer as of September 1. Ginny Pulbrook will join the board as a non-executive director from October 1, and Michael Williamson will be appointed as interim chief financial officer from September 10. He will not be formally joining the board.

The group said the new appointments will add “significant commercial and listed company experience”.

Nick Dilworth joined Stobart Group as group commercial director in November 2017 from BES Utilities, where he was managing director.

Today’s announcement said the appointment recognises the contribution Nick has made in developing the commercial strategies of the operating divisions, alongside chief executive Warwick Brady.

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

She is a partner at Capital Market Communications (Camarco). Prior to joining Camarco in 2014, she spent 26 years at one of the UK’s leading public relations firms, Citigate Dewe Rogerson, which she also co-founded.

Michael Williamson brings significant finance leadership experience, gained over the past 25 years, from both quoted and privately-owned companies.

He 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.

The group said today’s appointments are part of a series of actions, announced on July 9, which 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 the company’s 2019 AGM

Russell Reynolds, a leading independent search firm, has been appointed to identify suitably qualified and independent persons and will continue to engage with significant shareholders on the process.

Commenting on the appointments, chairman Iain Ferguson said: “We have moved quickly to strengthen the board, and are pleased to have been able to appoint such experienced directors.

“Nick and Ginny will make major contributions to delivering our strategy.

“Nick has already supported the commercial progress of the company through his work with the leadership teams of our operating divisions.

“Ginny will add further commercial insight as well as bringing significant experience of providing strategic advice to the boards of some of the UK’s largest companies.

“Michael, who has considerable PLC experience, will oversee the group’s finance function.”

He added: “On behalf of the board, I would like to welcome them and look forward to working with them.”