Warrington-based Eddie Stobart Logistics plc said on Tuesday that former chairman William Stobart, son of founder Eddie, has been appointed executive chairman of its major subsidiary GWSA.
GSWA controls the trading entities which were formerly subsidiaries of Eddie Stobart Logistics.
“Eddie Stobart Logistics plc has been informed by Greenwhitestar Acquisitions Limited (GWSA) that William Stobart has been appointed executive chairman of GWSA and its subsidiaries with day to day management responsibility,” said Eddie Stobart Logistics in a stock exchange statement.
“Sebastien Desreumaux, who became chief executive of Eddie Stobart Logistics plc in August 2019, has resigned from the board of GWSA and will leave GWSA at the end of December 2019.
“The board thanks Sébastien for his exceptional leadership of the company through its recent challenging period
“The company has an indirect 49 per cent interest in the issued shares of GWSA following completion of the transaction with Douglas Bay Capital Fund III LLP announced on 10 December 2019.
“GSWA indirectly holds 100 per cent of the interests in the trading entities which were formerly subsidiaries of the company.”