Shearings brings in new FD
SHEARINGS Group, the Wigan-based coach tours and hotels operator, has appointed Gary Speakman as its new finance director.
The company, which is owned by private equity firm 3i, has recruited Mr Speakman from Ainscough Crane Hire, where he has been a director since 2008 following its £255m management buy-out from the Ainscough family, which was backed by Bank of Scotland’s Integrated Finance arm. Prior to that, he had been a finance director at corporate finance and investment group Acceleris and at Sportech.
Mr Speakman, who is from Wigan, replaces David Newbold, who has retired.
Shearings Group recently reported a 3.5% rise in annual sales for 2011 to £193.7m, although it said margins had been squeezed and it swung from a profit of £1.6m in 2010 to a £3.6m loss.
Denis Wormwell, CEO of Shearings Group, said: “Gary is a high calibre FD with an excellent track record at some of the North West’s largest and most successful businesses. His combination of strategic and operational expertise is a valuable addition to the Board as we focus on delivering our growth plan.”
“I’d also like to thank David Newbold for his commitment and service to Shearings during his time with the business.”
Mr Speakman said: “Having expanded our customer base in 2011 and extended our 2012 holiday programme, Shearings is ideally placed to consolidate its position in the market and continue its growth.”
