William Stobart appointed director of Speedy Freight

William Stobart (pictured) has been appointed director of franchised B2B express freight service Speedy Freight.

Eddie Stobart Logistics (ESL) has held a 50% stake in Puro Ventures, which trades as Speedy Freight, since 2017 but it was only last week that William became director of the company.

One the same day, Brian Corrway was also appointed as director to the firm.

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• Speedy Freight built momentum in the year Eddie Stobart Logistics snapped up half of the business
• Eddie Stobart snaps up half of Speedy Freight

The last available set of accounts for Puro Ventures, for the year ending 30 November 2018, showed that it had increased turnover during the period by 42% to £26m and pre-tax profit had risen by almost 35% to £2.1m.

At the end of last year, William backed a £75m bailout of ESL by private equity firm DBAY Advisors.

The moved marked a victory for Stobart over former ESL group CEO Andrew Tinkler, who had made a rival £80m bid.

A spokeswoman for Speedy Freight declined to comment.