Strategic Update and Director

RNS Number : 8752X

Wincanton PLC

14 December 2010

 



For immediate release                                                                                      14 December 2010

Wincanton PLC

("Wincanton and "the Company")

Strategic Update and Directorate Change

Wincanton PLC, a leading European supply chain solutions provider, today announces that following the completion of a strategic review of the business, its immediate priorities are to focus on organic growth of the business, a significant reduction of the level of debt and to improve profitability through a greater reduction in both overhead and operating costs.

The Board is pleased to announce that, in line with its succession plans, Eric Born, the current Chief Operating Officer who has been in this role since April 2009, will take up the post of Chief Executive with immediate effect. Eric has extensive experience in managing turnarounds and growth in a number of industries including retail, airline catering and logistics. At Wincanton, he has predominantly focused on driving the successful turnaround of the German business.

Graeme McFaull, the current Chief Executive, has decided to stand down and will be leaving the Company to pursue other interests. He will remain with the Company in a consultative role in order to ensure a smooth handover with his successor.

The Board expresses its gratitude to Graeme McFaull for his very considerable service to the Company.

David Edmonds, the Chairman, said:

"Graeme has been with Wincanton in a variety of roles for 16 years and, as Chief Executive for the past five years, he has played a major part in securing its growth into a major logistics company over that period. We wish him well in the future."

"On behalf of the Board and the Company I welcome Eric to his new role as Chief Executive as the Company focuses on its strategic priorities of organic growth, reducing debt and improving the profitability of Wincanton."

For further enquiries please contact: 

Wincanton

David Edmonds, Chairman                                                    [phone] 

(Today only)   

Buchanan Communications                                        

Charles Ryland / Jeremy Garcia / Helen Chan                      [phone] 

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Editors' notes:

Wincanton plc - leading supply chain solutions

Wincanton is a European leader in the design and delivery of advanced supply chain and business outsourcing solutions.  It employs 28,000 people across Europe, producing an annual turnover of over £2.18bn / €2.85bn, and offers a broad spectrum of services that enable clients to optimise their logistics requirements at local, national or regional level.

Serving some of the world's leading companies, Wincanton offers extensive experience in many market sectors, including automotive, chemicals, consumer goods, construction, defence, food service, high tech, industrial, energy & petroleum and retail.

Wincanton is focused on operational excellence, continually striving to provide value and product leadership through a detailed understanding of companies' requirements.  The results are solutions that allow customers to focus on their core business. Warehousing solutions are tailored to requirements on a dedicated, shared-user or networked basis, while transport is provided utilising road, rail, air and intermodal systems. Further information on Wincanton's unique achievements and competencies can be found by visiting www.wincanton.co.uk

 

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