NEC appoints former Merlin Entertainments CEO as new Chair
Sir Nick Varney
The NEC Group has appointed Sir Nick Varney as its non-executive Chair, as it ramps up plans to transform its estate.
Varney brings more than 30 years of experience working in the tourism and leisure industry, after leading Merlin Entertainments as CEO from its inception in 1999 to his retirement in November 2022.
He transformed the business into a global provider of experiences for over 60 million guests every year.
Varney has previously served as Chair of UKHospitality, the trade body representing the UK’s hospitality and tourism industry, is currently a non-executive on the board of Marston’s, a Senior Advisor to Blackstone Private Equity, and a non-executive chair of Bath Rugby.
In the year to 31 March 2024, the NEC welcomed more than 3.7m visitors across its estate of conventions, exhibitions and arenas.
The leading live events business hosted major events such as Crufts and the Spring Fair and sold more than 1.5m tickets at its live entertainment venues – The Resorts World Arena and The Utilita Arena.
The Resorts World Arena was renamed bp pulse LIVE as part of a new sponsorship agreement from September. The 15,600-capacity arena said the change would mark to visitors that the destination is a “top choice” for those with electric vehicles.
bp pulse’s Gigahub™ is located nearby and is one of the UK’s largest public EV charging hubs with 180 charging bays.
Work is also progressing with Birmingham and Solihull councils on its vision for an urban masterplan, set to create 5,000 new homes, 380,000 sq ft of commercial space and 150,000 sq ft of outdoor event space.
In its latest accounts filed at Companies House, the group said: “Work continues alongside Birmingham City Council on the Masterplan for the NEC site.
“The Masterplan is aligned with the vision of creating one of Europe’s foremost leisure and business destinations and proposes new uses to complement those already existing on the site, including Resorts World Birmingham, Moxy Hotel and Merln Entertainments’ visitor attraction Bear Grylls Adventure.
“The Masterplan will seek to build on opportunities delivered through the HS2 project and Highways England investment in local road infrastructure.”
Melanie Smith CBE, NEC Group CEO said: “We are delighted to welcome Nick as Chair at such an exciting time for our business. We have ambitious plans to transform our site into the U.K’s entertainment and leisure capital, offering an ever-evolving set of experiences for everyone to explore and enjoy. Nick’s deep expertise in the leisure sector will be invaluable as we execute our plans.”
Sir Nick Varney added: “I am delighted to be joining the Board of the NEC Group and look forward to working closely with Mel and the executive team. This is a great business with a unique offering and world-class venues. I look forward to supporting the team in delivering on its significant potential.”
The NEC Group said last year that it was in a more “sustainable position” following a refinancing and £100m cash injection from investor Blackstone.
CFO Paul Reeve had told TheBusinessDesk.com that despite another year of more than £16m in losses caused by the pandemic, the NEC was bouncing back.
Reeve joined the group after the appointment of Melanie Smith as chief executive. Smith has succeeded Paul Thandi who moves to the position of chairman after nearly 17 years as CEO.
£70m of the cash was used to pay off debt, as two unsecured loans owed by NEC Group subsidiaries total more than £325m with interest charged at SONIA plus 4.35%, resulted in huge payments to just maintain the loan.
