SSP group CEO to step down

Simon Smith is to step down from his role of group chief executive officer of SSP. He is expected to leave the group at the end of the year in order to take up a new opportunity at a private equity backed business.

The board will now commence the process to identify Smith’s successor and has said it will consider both internal and external candidates.

The operator of food and beverage outlets in worldwide travel locations said in its interim results last month that the business had begun to see a recovery in passenger demand, led by domestic and leisure travel, most notably in North America.

Current trading is in line with expectations with third quarter sales at 27% of 2019 levels and the most recent week’s sales at 42% of 2019 levels.

Mike Clasper, chairman of the board, 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.”