Former Autologic chief executive Avril Palmer-Baunack has been appointed as deputy chief executive of Stobart Group. Palmer-Baunack also joins the board of directors at Stobart, which completed its acquisition of car transporter giant Autologic last month. Former deputy chief executive Richard Butcher becomes chief executive for Stobart’s property business At the same time William Stobart has re-joined the board of directors at the firm after he stepped down in March 2011. Rodney Baker-Bates, non-executive chairman of Stobart, said: ” With […]
Stobart Group has said a £25m windfall generated by a property sale this month will be held in cash pending reinvestment or used to repay debt.
Stobart Group says it has seen no significant improvement in its transport business’s fortunes, since it warned of tough trading conditions at the end of June. In a pre-close statement the company, which has just announced it will be increasing its hybrid truck fleet, says the UK recession is dampening growth within transport. While the majority of the Eddie Stobart transport business has progressed well, the restructuring of the chilled business alongside bad simmer weather has resulted in losses. Stobart, […]