Bibby Line Group, the £800m ($1bn) maritime and retail conglomerate, has named Jonathan Lewis as its group managing director from the beginning of next year.
He takes up the position at one of the UK’s oldest family-owned businesses from John Cresswell, who has opted to step down as Bibby's chief executive at the end the month.
Lewis, who is Bibby’s chief financial and strategy officer, joined the Liverpool-based company in July last year following a career spanning roles with Tesco, investment bank Lazard and management consultancy firm McKinsey.
“I am delighted to have been offered the opportunity to lead Bibby Line Group, and look forward to continuing to work together with the board, and colleagues across the group, to deliver our strategy,” Lewis said.
“The group has shown its resilience as we trade through the pandemic, and I see a bright future ahead.”
Stronger business
Chairman Sir Michael Bibby said the group had “worked its way through the challenges of the last few years and emerges as a stronger business, well positioned for the future as the economy recovers”.
“I’d like to thank John for leading the group through the last two-and-a-half years in the most challenging of circumstances, while always role modelling our values.”
Cresswell said the time is right to hand the reins to Lewis.
“With business performance improving and a strengthening balance sheet, the group portfolio is now well positioned to deliver future shareholder value,” he said.
The Bibby group has been in shipowning since 1807, when John Bibby began in the business alongside his partner John Highfield. But it now owns no deepwater vessels.
Bibby exited the dry cargo market with the sale of its last supramax bulker in 2018. The 56,800-dwt Shropshire (built 2009) was sold to Louis Dreyfus of France.
Its marine activities comprise Bibby Marine Services, which owns and operates offshore service operations vessels and "walk to work" vessels, and Bibby Maritime, which specialises in floating accommodation units.
The company also controls retail chain Costcutter and Garic, a construction site welfare products and plant hire business.
