Former Salvesen director returns as chief exec
British logistics group Christian Salvesen today said it had lured a former senior executive back from a rival in order to become chief executive.
Salvesen said Stewart Oades would return from Exel, where he is boss of its contract logistics arm in the UK and Ireland. The 51-year-old will take over when his current contract ends, although this date has not been confirmed.
The appointment comes during “challenging” times for the company, which last week said merger talks with pan-European rival TDG had collapsed.
The Northampton-based group, which employs more than 15,000 people, saw chief executive Edward Roderick resign in May following a string of difficulties.
Annual profits fell 15% to £17.1m (€24.5m), although the company recently offered some encouragement following a number of contract wins.
Mr Oades was managing director of Christian Salvesen’s food logistics operation from 1993 to 1996 and has also held senior positions at Safeway and Heron Distribution.
Chairman David Fish said his return “significantly” strengthened the senior management team.
He said: “I am delighted to appoint such a high calibre figure from the industry who will lead the management team and make Salvesen an even more customer-focused, efficient and innovative competitor.”
Shares lifted a penny to 62.5p after the announcement.
