Shearer vows to ‘unify’ as he joins Stobart as chairman

Stobart Group's London Southend Airport

Carlisle-based aviation, energy and civil engineering firm Stobart Group — still recovering from recent boardroom battles — announced the appointment of David Shearer to its board as a non-executive director and chairman-elect, with effect from June 1, 2019.

Shearer will take over as chairman when Iain Ferguson steps down from the board at the firm’s 2019 AGM.  

Stobart Group had a long-running fight with former CEO Andrew Tinkler, who had launched a campaign to oust Ferguson.

Shearer is an experienced independent director and corporate financier.

He is currently non-executive chairman of Speedy Hire plc, the Scottish Edge Fund and Aberdeen New Dawn Investment Trust plc.

He will stand down from the board of Aberdeen New Dawn Investment Trust plc at the end of its September 2019 AGM.

Shearer was previously the senior partner of Deloitte LLP for Scotland and Northern Ireland, and a UK executive board member of the firm. 

He has subsequently held the positions of co-chairman of Martin Currie (Holdings) Limited, chairman of Mouchel Group plc and Crest Nicholson plc and a non-executive director of City Inn Limited.

Stobart Group chairman Iain Ferguson said: “I am pleased to be handing over as chairman to David after the next AGM.

“He has considerable experience which will help chief executive Warwick Brady and the team to implement the group’s strategy and deliver our ambitious growth targets …

“Stobart Group is a much-changed business since I joined six years ago, and one that is now very focused and well-positioned to deliver value to shareholders.

“Over the last year, we have strengthened the board, adding more expertise, and ensuring shareholders continue to have a strong independent voice.”

Shearer said: “I am delighted to be joining the board of Stobart Group as it executes its strategy.

“Two things are clear to me. Firstly, that Stobart Group is successfully growing two excellent businesses: aviation and energy.

“Secondly, that there is a need to unify the shareholders behind the strategy.

“I look forward to working with Warwick Brady and the board in growing long-term value for all shareholders.”