Esken Limited Directorate Change
RNS Number : 3841O
09 February 2021
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014 as
amended by regulation 11 of the Market Abuse (Amendment) (EU Exit)
9 February 2021
("Esken" or "the Company")
Esken Limited, the aviation and energy infrastructure group,
announces that Warwick Brady has tendered his resignation as Chief
Executive and has accepted an offer to become Chief Executive of
Swissport, a global aviation services business. It has been agreed
with the Board that Warwick will remain as Chief Executive of Esken
until the end of June at the latest. This will provide sufficient
time to ensure continuity and a smooth transition in leadership. He
will not be entitled to any payments other than his contractual
entitlements for the period up to his leaving date.
David Shearer will assume the role of Executive Chairman on an
interim basis with immediate effect. His initial priority will be
to review Esken's strategic options as the Company navigates the
continuing impact of the COVID-19 pandemic. As part of that
exercise he will determine the leadership requirements for a new
CEO to implement that strategy.
Esken owns two attractive core businesses; Stobart Energy, which
supplies biomass fuel to renewable energy plants and London
Southend Airport. Both businesses have the potential to generate
significant value for shareholders in a post COVID world.
Executive Chairman David Shearer said, "I would like to thank
Warwick for all of his efforts during his time as Chief Executive.
He has led the transformation of Esken into an operationally
focused business and was instrumental in establishing London
Southend Airport as a key London Airport asset. In the last 12
months, he has dealt with the challenges which the business has
experienced due to the COVID-19 pandemic. The board wishes him well
in his new role.
All of Esken's businesses benefit from strong experienced
operational management teams with the capabilities required to take
the business forward. I look forward to working with Lewis
Girdwood, Nick Dilworth and all of our people and stakeholders as
we navigate the recovery into the post COVID period."
Chief Executive Warwick Brady added, "It has been a privilege to
lead this business over the past four years. I am grateful for the
support of my highly dedicated and professional colleagues. Esken
is a strong company with great people and I wish David and the team
The Group will announce a trading update for the year ending
February 2021 in March.
Charlie Geller, Communications Director
C/O Tulchan Communications
Tulchan Communications 020 7353 4200
Olivia Peters/David Allchurch firstname.lastname@example.org
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(END) Dow Jones Newswires
February 09, 2021 02:00 ET (07:00 GMT)