THIS STATEMENT CONTAINS
INSIDE INFORMATION
23 January 2025
LEI:
213800QGNIWTXFMENJ24
SSP GROUP DIRECTORATE
CHANGE
Jonathan Davies to retire
from his role as Deputy Chief Executive and Chief Financial
Officer;
Geert Verellen
appointed as Chief Financial Officer
SSP Group plc, a leading operator of
restaurants, bars, cafes and other food and beverage outlets in
travel locations across 37 countries, announces that, after 20
years of service, Jonathan Davies, Deputy Chief Executive Officer
and Chief Financial Officer, has given the Board notice of his
intention to retire. Today, we also announce that Geert Verellen
will join the Company in early April 2025 as CFO
Designate.
Jonathan has been the Group Chief
Financial Officer of SSP since its original formation within
Compass Group in 2004, through its period of private ownership by
EQT, its IPO on the London stock market in 2014, and its subsequent
transformation into the leading global food travel business it is
today. He was appointed Deputy Chief Executive Officer in 2021 and
played a key role in successfully navigating the business through
the unprecedented challenges of the Covid-19 period. During his
tenure, SSP has expanded its footprint into many new regions,
including North America, India, Australia, the Middle East, and a
number of South-East Asian markets.
Geert has extensive financial and
operational experience in international consumer, food and
retailing companies, most recently as Chief Financial Officer from
2020 to 2024 at Maple Leaf Foods Inc, a listed multi-national food
manufacturing company in Canada. Prior to this, he served as
Regional CFO at Walmart Inc overseeing finance operations in
Canada, Japan & India from 2015 to 2019. Between 2002 and 2015,
Geert held multiple senior finance roles at Delhaize Group,
including Senior VP of Finance for Delhaize Belgium, VP of Group
Investor Relations, and Director of Accounting of the Belgium
operations. He began his finance career at
PricewaterhouseCoopers, working in the US and Belgium. Geert has a
Masters in Commercial Engineering and a Certificate in Applied
Economics and Accountancy, from the University of
Antwerp.
Geert will assume the role of Chief
Financial Officer and join the Board from 9
June 2025. To ensure continuity and a smooth transition, Jonathan
has agreed with the Company that he will remain on the Board until
30 September 2025 and will continue in his role as Deputy CEO until
the end of December 2025, which will enable us to benefit from his
deep experience of SSP's business and his executive leadership of
Travel Food Services, SSP's joint venture in India, through the
execution of its planned IPO and its transition to becoming a
successful listed business.
Mike Clasper, Chair, said:
"On behalf of the whole Board, I
would like to recognise Jonathan's extraordinary achievements over
his 20-year career at SSP. In particular, he has my utmost
gratitude for the way he stepped up to navigate the business
successfully through the exceptional challenges of Covid-19, during
which time he also acted as CEO for a period. We wish him the very
best for his retirement and for what will no doubt be a very
successful non-executive career.
"Following a rigorous selection
process, we are pleased to appoint Geert Verellen as incoming CFO.
Geert will complement our strong Group and finance leadership teams
as we execute our strategy. With his extensive international
experience and his impressive financial and operational skillset he
will be a welcome addition to our Board."
Patrick Coveney, Group CEO, said:
"Jonathan is a legend at SSP, and -
as a leader and a personality - he has been integral to the success
of SSP since its formation more than 20 years ago. It has been a
privilege for me to work with and learn from him since I joined the
business in 2022. He will leave an enduring legacy: a well-earned
reputation for thought leadership across the food travel industry,
a strong finance team, and a deeply embedded culture and set of
processes to drive performance and capital returns. His friendship,
enthusiasm, resilience and sense of humour will be missed by all at
SSP.
"I am delighted to welcome Geert to
our team. He is a highly experienced financial leader, with
significant and relevant industry, functional and international
expertise, and a management style that will enhance and complement
our Board and Executive Committee. We look forward to welcoming him
to the business and are delighted that Jonathan will remain with us
until December to facilitate a smooth transition and support us in
the delivery of our previously announced FY25 plan."
Jonathan Davies, Deputy Group CEO and Group CFO,
said:
"It has been my great privilege to
serve as CFO of SSP for the last 20 years. I am very proud of the
strong business that we have built, our successful global expansion
and our financial track record. Above all, it has been my great
pleasure to work with such a talented group of colleagues across
the globe and I would like to thank them deeply for all the support
they have given me over the years. I look forward to continuing to
work with Patrick and our teams throughout the rest of the year. As
I hand over to Geert, I have every confidence that the business is
in good health and well-placed to deliver future growth and
returns."
Geert Verellen, Group CFO designate, said:
"I am honoured to have been
appointed as CFO of SSP. This is a fabulous business, and I am
thrilled to have the opportunity to contribute to its growth and
success. I look forward to working alongside my new colleagues to
further strengthen the Group's performance and enhance shareholder
value."
There are no additional matters that require
disclosure under LR 6.4.6 or 6.4.8 R (1) to (6).
The information communicated within
this announcement is deemed to constitute inside information under
the Market Abuse Regulations (EU) No. 596/2014 (as amended) which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018. The person responsible for arranging the release of
this announcement on behalf of the Company is Fiona Scattergood,
Group General Counsel and Company Secretary.
CONTACTS
Investor and analyst
enquiries
Sarah John, Corporate Affairs
Director, SSP Group plc
Sarah Roff, Group Head of Investor
Relations, SSP Group plc
+44 (0) 7736 089218 / +44 (0) 7980
636214
E-mail: sarah.john@ssp-intl.com
/ sarah.roff@ssp-intl.com
Media enquiries
Rob Greening / Russ Lynch
Sodali & Co
+44 (0) 207 250 1446
E-mail: ssp@sodali.com
About
SSP
SSP Group plc (LSE:SSPG) is a global leading
operator of food and beverage outlets in travel locations employing
around 49,000 colleagues in over 3,000 units across 37 countries.
We specialise in designing, creating and operating a diverse range
of food and drink outlets in airports, train stations and other
travel hubs across six formats: sit-down and quick service
restaurants, bars, cafés, lounges, and food-led convenience stores.
Our extensive portfolio of brands features a mix of international,
national, and local brands, tailored to meet the diverse needs of
our clients and customers. Our purpose is to be the best part of
the journey, and we are committed to delivering leading brands and
innovative concepts to our clients and customers around the world,
focusing on exceptional taste, value, quality and service.
Sustainability is crucial for our long-term success, and we aim to
deliver positive impact for our business while uniting stakeholders
to promote a sustainable food travel sector.
www.foodtravelexperts.com
