Investing.com -- Shares of SSP Group fell by 0.7% today after the company's announcement that its long-serving CFO, Mr. Davies, will leave the company. He will be succeeded by Geert Verellen in June 2025.
Mr. Davies, who has been instrumental in SSP's growth and diversification into several fast-growth markets since 2004, will continue to play a significant role in the company until December 2025.
His extended involvement is intended to ensure a smooth handover to Mr. Verellen, who brings extensive experience from executive positions in listed food and retailing companies, including Maple Leaf Foods and Walmart (NYSE:WMT).
Barclays (LON:BARC) commented on the transition, stating, "Whilst SSP remains a complex business, we see limited transition risk given Mr Davies will remain on the board until September 2025, and thereafter will continue his role as Deputy CEO until December 2025, thus enabling a smooth transition."
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