LONDON (ShareCast) - (Sharecast News) - SSP Group said on Friday that Coats Group's Mike Clasper will succeed Vagn Sørensen as chairman, while also appointing him as an independent non-executive director with immediate effect.
Sørensen, who has been chairman since 2006 and led the FTSE 250 company through its IPO in 2014, will retire at the 2020 annual meeting, at which point Clasper will assume the role of chairman.

Clasper, who has previously served on the board of businesses such as Which?, ITV, BAA and Serco Group, will leave his role as chairman of Coats in order to join SSP.

He has also held the position of chairman at HM Revenue & Customs and was president of the Chartered Management Institute.

Carolyn Bradley, senior independent director and member of the nomination committee, highlighted Clasper's significant and relevant experience, in particular his deep expertise in the airport and aviation services industries following his time as chief executive of BAA.

SSP currently operates branded catering and retail units at more than 125 airports and 270 railway stations around the world.

"I would like to thank Vagn Sørensen for the major contribution he has made to SSP, which includes guiding the business through a highly successful IPO and delivering consistent shareholder returns since then. His chairmanship and knowledge of the business have played a significant part in the development of SSP and we wish him well for the future," said Bradley.

SSP shares were down 0.94% at 631.00p at 0956 GMT.

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