Buyout at Palletways
Palletways, the UK specialist in the express distribution of small consignments of palletised freight, has achieved a management buy-out with the support of a €9 million investment from 3i, the venture capital company.
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John Roberts, Consignia CEO, to Retire
John Roberts, Chief Executive of Consignia, announced today that he would be retiring from the company later this year. In a personal statement, Mr Roberts, who is 57, said he had first discussed his retirement with Board colleagues nearly 18 months ago. ‘In February 2001, as part of a normal Board Succession Planning meeting with the Chairman and non-executive members, I said that I would have completed six years as CEO in the autumn of 2001, and I felt both myself and the company needed a change,’ said Mr Roberts.
Read MoreHays struggles to find new CEO as it admits trading stays tough
HAYS, the staff recruitment-to-supply chain management group, admitted yesterday it was struggling to find a new chief executive as it signalled that trading conditions were unlikely to recovery until the first half of next year.
The group, which ousted its former managing director, John Cole, last June after a shock profits warning, said it had widened its search for a new chief executive but was “still interviewing”.
Bob Lawson, the chairman, said: “The talent pool is extremely small. In the pool we’re fishing in everybody has a full-time job [and] this climate doesn’t encourage people to move.” He added that Hays was looking for someone who worked in the services sector and who had European experience “because that’s where growth will come from”.
Change of Consignia name to Royal Mail could cost GBP 1M
The cost of consigning the Consignia name to history could top Pounds 1m, it emerged yesterday ahead of the announcement of plans to rename itself Royal Mail.
The main cost of the move to call itself Royal Mail is expected to be altering the Consignia signs on all its 3,000 buildings to meet company law requirements.
The Consignia name was adopted when the Post Office Group received plc status in March 2001. But it became one of the most ridiculed corporate rebrandings in recent memory and synonimous with the financial crisis engulfing the company.
Consignia chief becomes less plural
Allan Leighton, the non-executive chairman of Consignia, the former Post Office, yesterday began dropping some of his other duties in preparation for a more hands-on role at the beleaguered state-run operation.
ScottishPower said Mr Leighton had quit as a non-executive director there and, according to industry sources, he is also close to dropping some other directorships.
There is growing speculation that John Roberts, Consignia’s chief executive, may be ousted, taking the blame for an expected annual loss of £1.0bn to £1.2bn to be unveiled by the group today.
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