Eddie Stobart Logistics CEO Sebastien Desreumaux to leave at the end of the month

Eddie Stobart Logistics (ESL) has announced that Sebastien Desreumaux, who became CEO in August 2019, has resigned from the board of Greenwhitestar Acquisitions (GWSA) – the subsidiary which holds all of the trading entities within the Eddie Stobart Group – and will leave at the end of the month.

A statement from the company said: “The board thanks Sebastien for his exceptional leadership of the company through its recent challenging period.”

ESL now has an indirect 49% interest in the shares of GWSA following the completion of the transaction with private equity firm DBAY Advisors on 10 December.

Read more

• Eddie Stobart Logistics saved as DBAY Advisors wins out over former boss Andrew Tinkler
• DBAY warns Eddie Stobart Logistics shareholders to vote for its proposal or face “imminent liquidity shortfall
• William Stobart to take key role at Eddie Stobart Logistics under DBAY takeover plans

The takeover saw the return of William Stobart as the company’s executive chair with day-to-day management responsibility.

Son of Eddie Stobart, he was previously the company’s chief executive but left in 2017 ahead of its float on the stock exchange.

DBAY holds a 51% stake in GWSA and has injected £55m of new financing into the business and its trading entities by way of a payment-in-kind-facility.