SSP beefs up board ahead of potential £2bn float

Posted by Unknown on Monday, April 14, 2014


Mr Barton, who is the chairman of easyJet, Next and insurance underwriter Catlin, will head up SSP’s remuneration committee as the company puts in place a conventional plc committee structure. His previous roles, which span chairing Cable & Wireless Worldwide and Hammerson, include a stint as the senior independent non-executive at WH Smith.




Mr Dyson, the former chief executive of Punch Taverns and finance director of Marks & Spencer, already sits on boards including Intercontinental Hotels, Betfair and ASOS. He will chair SSP’s audit committee.


The third non-executive appointment is Mr Hennequin, the former boss of Accor. He joined the hotels chain after a 26-year stint at McDonald’s, culminating in running the burger giant’s European arm. He is currently on the boards of the John Lewis Partnership and Eurostar.


“John, Ian and Dennis have substantial experience of leading global organisations across the leisure, travel and retail sectors,” said Vagn Sorensen, the SSP chairman.


The caterer, which employs almost 30,000 staff serving one million customers a day, has outlets at more than 140 airports and 250 stations across 29 countries. Apart from its own brands, which also include Delice de France and Millie’s Cookies, SSP also runs franchises for M&S Simply Food, Burger King and Starbucks.


EQT bought the fast-food group in 2006 when it was offloaded by Compass in a £1.3bn deal.


SSP saw sales rise 5pc to £1.83bn last year, with underlying earnings up 10pc to £153m.


The Swedish private equity firm is keenly watching the latest market turbulence, where newcomers including Just Eat and AO World are trading below their listing price, before pushing ahead with any float of its own.





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