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Why did Burns step down from NFC?

12th May 1994, Page 10
12th May 1994
Page 10
Page 10, 12th May 1994 — Why did Burns step down from NFC?
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Which of the following most accurately describes the problem?

• A clash of philosophies is believed to be behind the resignation from NFC of the man who is organising the merger of Exel Logistics and BRS.

Robbie Burns, managing director of UK transport & logistics, is the company's largest single shareholder with shares worth £2.3m before the company's recent placing.

Burns was the main internal candidate for the position of chief executive before Peter Sherlock was brought in from Bass to do the job. He is thought to be unhappy about the new philosophy at NFC which has led to the erosion of employee share ownership. Burns will leave on 30 September when NFC says the merger is "likely to be completed".

NFC has beefed up its chilled distribution's European network by buying three German companies for £10.2m including debt, The acquisitions comprise two Frigoscandia subsidiaries and Rickhoff GmbH.


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