LONDON (ShareCast) - (Sharecast News) - Travel food outlet operator SSP Group on Wednesday said chief executive Simon Smith has quit to join an unnamed private equity-backed business.
Smith s expected to leave the company at the end of 2021, SSP said in statement. He joined the group in 2014 as head of its UK and Ireland business, before becoming chief executive in 2019.

The owner of the Upper Crust and Ritazza brands said current trading is in line with expectations, with third quarter sales at 27% of 2019 pre-Covid pandemic levels, and sales in the most recent week at 42% of 2019 levels, compared with 30% at the beginning of June.

Full-year guidance remained unchanged. The company has seen sales and profits slump as lockdowns shutdown air and rail travel for much of last year - it around 5,000 jobs following the impact of the first lockdown.

SSP said it had begun to see a recovery in passenger demand, led by domestic and leisure travel, most notably in North America, over recent months.

Chairman Mike Clasper said: "Throughout the past 16 months, Simon and our executive team have done an excellent job in steering SSP through the enormous challenges presented by the pandemic, acting very rapidly to protect the business and its cash flow, create a more flexible operating model and strengthen the balance sheet.

"SSP has a very clear strategy and significant competitive strengths, placing it in an excellent position to take advantage of the many opportunities for growth that will be presented by the recovery in the travel sector."

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE