LONDON, July 8, 2013 /PRNewswire/ --
SSP, the leading dedicated operator of food and beverage brands in travel locations, is pleased to announce that it has appointed Kate Swann as Chief Executive Officer effective from September 4. She succeeds Andrew Lynch who will stand down after nine years in the role.
Kate Swann has had a 23 year career in the retail industry and was CEO of WHSmith for ten years until July 1.
Kate Swann said, "I am delighted to be joining SSP and look forward to working with the team as we continue to grow the business and deliver for our customers."
Andrew Lynch said, "I feel privileged to have had the opportunity to lead SSP for a long and exciting period and I am proud to leave it in good shape, with a strong track record of sales and profit growth, an exciting pipeline, and an excellent management team."
SSP Chairman, Vagn Soerensen, said, "Andrew has done a great job in building SSP into an international market leader in its sector. The strength of both the management team and brand portfolio leaves the business very well-positioned for further growth. We wish him every success in the future. I very much look forward to working with Kate to continue developing SSP in the years to come. SSP will benefit from Kate's vast retail experience from WHSmith in accelerating growth and working with business partners, while continuously improving the customer experience."
Notes to editors:
About SSP
SSP is the leading dedicated provider of food and beverage brands in travel locations, operating restaurants, bars, cafés, food courts, lounges and convenience stores in airports, train stations, motorway service stations and other leisure locations. With a heritage stretching back over 60 years, today SSP has 30,000 employees, serving over a million customers every day. It has business at over 140 airports and over 250 rail stations, and operates more than 2,100 units in 30 countries around the world.
SSP operates an extensive portfolio of over 200 international, national, local and speciality brands. These include Upper Crust, Starbucks, Caffè Ritazza, Burger King, M&S Simply Food, Millie's Cookies, O'Learys, Caviar House & Prunier, and leading Asian brands Ajisen Ramen and Saboten, as well as stunning bespoke concepts such as the Montreux Jazz Café in Geneva and the award winning Center Bar at Zurich.
Its brand portfolio is tailored for each specific location, depending on variables such as passenger profile, consumer need states, location type, size and design.
About Kate Swann
Kate Swann was Group Chief Executive of WHSmith from November 2003 until June 2013. She started her early career at Tesco before moving to positions at Homepride Foods, Coca-Cola Schweppes and Dixons. She then worked for Homebase, ultimately as Managing Director, before becoming Managing Director of Argos in 2000. She is also a non-executive director of Babcock International Group PLC.
About Andrew Lynch
Andrew Lynch, 56, was a Group Board Director of Compass Group PLC for 9 years until 2005, initially as Group Finance Director and from 2004 as CEO of SSP. He has been with the business since 1988, when he joined the management buyout team of Travellers Fare. Andrew previously worked for Prudential Corporation PLC and KPMG. Andrew was SID and Audit Committee Chairman at Dixons Retail PLC from 2003-2012. Andrew will continue to be a member of the EQT industrial advisor network.
About EQT
EQT is the leading private equity group in Northern Europe with approximately EUR 20 billion in raised capital, portfolio companies with total sales of more than EUR 25 billion and over 550,000 employees. The funds' investment philosophy is to help acquired companies grow and develop into great and sustainable companies, both under EQT's ownership and with future owners. The result so far: the over 60 previously or currently owned portfolio companies have during EQT's ownership seen an average annual increase in the number of employees by 11%, sales by 11% and earnings by 15%. Almost all of the return on investments is attributed to operational improvements such as increased sales and efficiency gains.
EQT supports a growth oriented business strategy, which has its roots in the Nordic culture, and a transparent governance model, combined with access to EQT's unique international network of industrialists. By implementing clear strategies and having access to operational expertise and ownership skills, the portfolio companies develop and grow. The strategies and implementation of operational excellence are driven by the appointed CEO and management team, board members who are handpicked from EQT's Industrial Network. Portfolio companies are monitored by more than 120 Investment Advisory Professionals from EQT Partners. EQT´s funds represent the investment of hundreds of investors from all parts of the world.
Funds launched since the beginning of 2012 are managed in the Netherlands, the UK and Luxembourg. EQT Holdings AB, based in Stockholm, Sweden is the parent company of these general partners/fund managers. This means that EQT applies a corporate structure with transparency for all stakeholders, unique in the private equity industry.
EQT's mission since its first investment two decades ago remains the same - create value in medium-sized to large companies in Northern and Eastern Europe, Asia and the United States by investing, helping them to develop and transform into great, leading companies.
Contacts:
EQT:
Johan Haehnel - EQT IV spokesperson
Tel:+46-850655334
Per Franzen - EQT Partners
Tel:+49-8925549934
SSP:
Powerscourt (media enquiries)
Tel:+44(0)20-7250-1446
Victoria Palmer-Moore/Greg Lawless
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