Courier directors are men with itchy feet

MORE THAN ONE IN 10 UK courier company directors changed jobs last year, according to a new employment study of the industry compiled by Plimsoll Publishing. The study, due to be published in July, found that some 11 percent of 1,978 directors made the switch between positions in 2000. While the study also found that 24 percent of directors (475) have been in their jobs for over 10 years, 12 percent (232) were over 60 years old.
“Over the next 3-5 years, as these bastions of the industry begin to reach retirement age, there could be a profound effect on the companies they formerly controlled,” Plimsoll noted.
The average director in the industry is 46 years old and earns £33,000 a year, the
study added.
Despite their advancing years, their performance did not seem to be flagging as, of
the 176 companies with directors aged 60-plus, 34 percent were successful, compared with the industry average of 33 percent.
The ageing management could have profound effects on the future structure of the
industry, particularly as every board member was over 55 at 86 of the companies studied. This could increase the prospects of takeovers, Plimsoll stated.
Some 81 of the companies making recent appointments were facing some sort of
financial difficulties including, in 27 cases, appointing a complete new board.
Some 257 directors in the industry are under 35, with 70 of them appointed within the last 24 months.
On the other side of the Channel, one in five French courier companies are at a
high risk of failure, said another report from Plimsoll.
Many of these businesses will struggle to settle payments over the next six month, the report highlighted.
All is not gloom though: the report outlines that 139 French courier companies are
“financially sound and would be ideal companies with whom to do business,” Plimsoll said.