BAA Mike Hodgkinson to Succeed Sir John Egan as Chief Executive of BAA plc.LONDON--(BUSINESS WIRE)--July 29, 1999-- BAA plc, the UK-based airport company, today announced BAA's group airports director, Mike Hodgkinson, is to succeed Sir John Egan JOHN EGAN John Egan may refer to:
Mr. Hodgkinson, who is 55, has been responsible for the company's core domestic and international airports business for seven years, during which time it has increased its operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. by over 10 per cent each year and invested over 3 billion pounds, increasing capacity from 72 million passengers a year in 1992 to over 112 million today. Last year the BAA airports business under his command was voted by IATA IATA International Air Transport Association, which sets the rules for air transport, including those concerning air transport of animals. member-airlines the number one in the world for customer service and value for money. BAA chairman Lawrence Urquhart said today: "We promised shareholders we would conduct a careful search and we did. At its conclusion it was quite clear that our group airports director, Mike Hodgkinson, was the outstanding candidate. His unparalleled knowledge and experience of the airport business, his creativity and energy, and his popularity with our employees, all make him the right man to further build the company around the strengths of the core airport business and lead it into the 21st century." Mike Hodgkinson, after graduating from the University of Nottingham The University of Nottingham is a leading research and teaching university in the city of Nottingham, in the East Midlands of England. It is a member of the Russell Group, and of Universitas 21, an international network of research-led universities. , spent 18 years in the British motor industry The British motor industry was historically centred around Coventry in the West Midlands. History The beginnings 1896–1900 The British motor industry started when Frederick Simms became friends with Gottlieb Daimler, who had, in 1885, patented a design for , first with Ford and then with the Rover Group Rover Group plc was the name that was given by the British government, in 1986, to the state-owned vehicle manufacturer British Leyland or BL. After divesting of its commercial vehicle and bus manufacturing divisions the company by then consisting of the car manufacturing where from 1978 to 1982, he was managing director of Land Rover See LANRover. and Range Rover Ltd. He then joined Grand Metropolitan plc, where, before joining BAA in 1992, he was chief executive of Grand Met. Foods Europe. At BAA he has been throughout a member of the Board and deputies for Sir John Egan as chairman of the company's Executive Committee. Responsible for profitably developing the company's seven UK airports to meet ever-increasing demand while both maintaining some of the lowest landing charges in the world and improving customer service, he has also spearheaded the development of airport contracts around the world. Of the retiring chief executive, Mr. Urquhart said "Sir John Egan will retire after eight years with the company, during which company profits have risen more than two and a half times from 191 million pounds in 1991/2 to 516 million pounds today and dividends have doubled. He has presided over major retail innovation at the airports and the construction and opening of the Heathrow Express. He will leave the company in good shape and in good heart." BAA ordinary shares trade on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. ; prices may be accessed on Bloomberg under the symbol BAA LN, on the Reuters Equities 2000 Service under BAA.L and on Quotron under BAANU.EU. BAA ADRs, each equal to one ordinary share, appear on the pink sheets under BAAPY. Additional information is available on BAA's home page: http://www.baa.co.uk. |
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