Avril Palmer-Baunack is standing down from her role as executive chairman at the Stobart Group, the role she was appointed to on 21st January.
In a trading update, Stobart said it expects to report results moderately ahead of market expectations – and against this trading background the board had decided that the role of executive chairman was no longer appropriate.
Palmer-Baunack will remain on the board as non-executive chairman until an independent replacement is found, but is expected to announce her official departure around the release of the group’s results for the year ended 28 February 2013, on 16 May.
Having previously worked as chief executive of Autologic, she became director and deputy chief executive at Stobart when the group acquired Autologic in September. She then took on the role of executive chairman in January, replacing Rodney Baker-Bates when he announced his retirement.
Baker-Bates has now agreed to remain on the board as non-executive director to assist until the new chairman is appointed.
Senior independent director, Alan Kelsey, has announced his intention to leave the board at the same time as Palmer-Baunack.
The announcements come as Stobart wins a new three-year contract with Tesco, following an eight-year relationship where the group has been providing primary and secondary distribution services to the supermarket giant on a pay as you go basis.
Stobart provides secondary distribution services to nine Tesco distribution centres across the UK and the Republic of Ireland.
Stobart announces Palmer-Baunack’s departure
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