• Wincanton managing director David Yeomans resigned this week as
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parent company Unigate released a "disappointing" set of figures showing Wincanton's operating profit down from £16.6m to £700,000.
Unigate chief executive Ross Buckland, appointed last October, says that Yeomans left because there was not enough challenge" in his position following new management appointments. Yeomans will not be replaced.
Yeomans, who has spent 20 years with Wincanton, says he left amicably. "There is now a strong management team at Wincanton and I want a fresh challenge," he says. He intends to remain in transport.
The Unigate group's pre-tax profits slumped from £105.5m in 1990 to £75.5m in 1991. It is selling its car contract-hire business which has been "severely affected" by the recession. Buckland will not say if commercial vehicle contract hire will be sold. "It would be unfair to the shareholders," he says.
Wincanton's truck sales, through Arlington Motor Holddings, have been hit hard by reduced sales, and five franchises were sold or closed during the year. Buckland admits there will be more job losses across the Unigate group.
The company's future strategy is to focus on its core business of "food and related distribution", he says.