The removal of Mr Baker-Bates, who has held the position since 2007, was supported by some of Stobart’s largest shareholders including Invesco Perpetual, which holds a 36 per cent stake in the company.
“There has been a need for a change in leadership on the board and Avril fits that role perfectly,” said Neil Woodford, the head of UK equities at Invesco and one of the most influential fund managers in the City, managing more than £28bn of assets.
Shares in the haulier — star of Channel 5 reality TV programme Trucks & Trailers — have lost a quarter of their value over the past 12 months. The gloomy economic outlook last week forced Stobart to issue a profit warning and discontinue running its chilled transport division as a standalone business.
Vehicle processing and fleet management company Paragon has acquired Stobart Vehicle Services, previously the vehicle services division of Autologic.
after having a 1 2 1 at newark today, and telling the nice lady i wanted the money , where do i sign , then being told that there isnt the “scope for payment” makes you wonder , those stobart lawers must be doing some overtime thisweekend
The removal of Mr Baker-Bates, who has held the position since 2007, was supported by some of Stobart’s largest shareholders including Invesco Perpetual, which holds a 36 per cent stake in the company.
“There has been a need for a change in leadership on the board and Avril fits that role perfectly,” said Neil Woodford, the head of UK equities at Invesco and one of the most influential fund managers in the City, managing more than £28bn of assets.
Shares in the haulier — star of Channel 5 reality TV programme Trucks & Trailers — have lost a quarter of their value over the past 12 months. The gloomy economic outlook last week forced Stobart to issue a profit warning and discontinue running its chilled transport division as a standalone business.
Vehicle processing and fleet management company Paragon has acquired Stobart Vehicle Services, previously the vehicle services division of Autologic.
No doubt it is just another fiddle to protect assets ready for when things go pop, which they surely will eventually unless there is some massive managent changes in the upper echelons.
Phantom Mark:
No doubt it is just another fiddle to protect assets ready for when things go pop, which they surely will eventually unless there is some massive managent changes in the upper echelons.
You tend to find the upper echelons have no idea that there is really a problem, The bottom level of management dont have a clue whats going on either, the problems and issues tend to be created by the middle level management regional directors/managers who know theres a problem dont have a clue what they are doing over the years Ive come accross a few of these and unfortunately had the misfortune to work with one example recently who had been bought into the company I was working for until recently to grow it but was in reality doing nothing but shrink it!!(they tend to have risen through the ranks by not having a clue but sounding good) they create the problems and then blame lower and higher levels, cant really see stobarts going fully (thats one big hole to fill if they did!!) but there might be a huge blip ahead!!
Phantom Mark:
No doubt it is just another fiddle to protect assets ready for when things go pop, which they surely will eventually unless there is some massive managent changes in the upper echelons.
You tend to find the upper echelons have no idea that there is really a problem, The bottom level of management dont have a clue whats going on either, the problems and issues tend to be created by the middle level management regional directors/managers who know theres a problem dont have a clue what they are doing over the years Ive come accross a few of these and unfortunately had the misfortune to work with one example recently who had been bought into the company I was working for until recently to grow it but was in reality doing nothing but shrink it!!(they tend to have risen through the ranks by not having a clue but sounding good) they create the problems and then blame lower and higher levels, cant really see stobarts going fully (thats one big hole to fill if they did!!) but there might be a huge blip ahead!!
The shareholders want profit and returns, The senior management ■■■■ up to shareholders and instruct management to deliver, Management get on the case of middle management, middle management tell low level groundwork management to cut costs but dont offer any advice or direction.
As you can see in my brief example, the ■■■■ has rolled downhill, but low level management cannot cut costs anymore, so the ■■■■ is piling up and gonna go uphill, no suddenly there is a problem
jus proves that tosco stock inferior quality foodstuffs…
stobbies only really had one direction to head in…i mean they bought rail and planes too which they said was like loading a truck with pallets - thinking that summats wrong given that airplanes run in designated time slots and don’t get held up by sulking warehouse staff…
14 hours and no past from “Bewick”. Christ i’m worried. Maybe his nurse has given him too much “medication”, or there had been so much snow “south ■■■■■■■■ that his “stobart search engine warning klaxon” hasn’t sounded.
Seriously, someone get down there and check he’s ok. I need my daily update about how the"chuckle brothers" and “fast Eddie” are responsible global catastrophe since biblical times.
Jeez, road haulage in the UK is not a profitable, stable, sustainable business. Anyone with half a brain can see that, it’s too volatile. Eddie makes what a few quid each week off each truck he runs?
Effort/Risk versus reward doesn’t really make sense.
Ok, so they have some warehousing contracts but not enough. Even the Tesco haulage work isn’t that lucrative, it’s decent but they’re not charging what they should be for it which is why they’ve got the vast majority of it.
Silver_Surfer:
Jeez, road haulage in the UK is not a profitable, stable, sustainable business. Anyone with half a brain can see that, it’s too volatile. Eddie makes what a few quid each week off each truck he runs?
Effort/Risk versus reward doesn’t really make sense.
Ok, so they have some warehousing contracts but not enough. Even the Tesco haulage work isn’t that lucrative, it’s decent but they’re not charging what they should be for it which is why they’ve got the vast majority of it.
tesco haulage was never great paying work anyway, then tesco realised that they could save a few quid by contracting out the whole distribution process to stobart and others. i would expect other tesco owned and ran rdc’s too follow the same fate as doncaster got.
