New FD at logistics group

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Steadman had been in the post since July after the departure of Peter Aspden.

Chairman David Fish said Steadman had ‘made a significant contribution’ in the short time he had been the interim finance director.

He was appointed following widespread shareholder unhappiness with senior management.

During the summer, the company announced its fourth profit warning over an 18-month period, a dividend cut and full-year losses.

Aspden left a few weeks later after more than 30% of shareholders either abstained or voted against his re-election as finance director.

Steadman, who has been given a 12-month contract, told the Financial Times newspaper: ‘This is a challenging time for the whole company and for the industry as a whole.’

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