Manchester Airport Grp Funding PLC MAG announces Ken O'Toole as new Group CEO (7366C)
14 Junho 2023 - 9:00AM
UK Regulatory
TIDM38LZ
RNS Number : 7366C
Manchester Airport Grp Funding PLC
14 June 2023
Issuer: Manchester Airport Group Funding PLC
Date: 14 June 2023
Manchester Airport Group Funding PLC
Company No. 8826541
News Release
MAG announces Ken O'Toole as new Group CEO
Manchester Airports Group (MAG) today announced the appointment
of Ken O'Toole as its next Group Chief Executive Officer (CEO). Mr
O'Toole will take over as Group CEO on 1 October 2023 from Charlie
Cornish, who has led the business for the last 13 years.
Mr O'Toole is currently MAG's Deputy CEO, with responsibility
for the strategic development of the Group's three UK airports.
Following the pandemic, he has led the operational and commercial
recovery of the Group's airport businesses, building back passenger
numbers, improving customer experience and increasing colleague
engagement. Mr O'Toole joined MAG in 2012 and has held several
senior executive roles at the company including Chief Commercial
Officer, Chief Executive of London Stansted Airport and Chief
Executive of Manchester Airport.
MAG also announced that Sir Adrian Montague has given the Board
notice of his intention to retire as Chair at the end of September
2023. With a major programme of investment currently underway
across the Group, MAG's Board has appointed Mr Cornish as Chair to
provide continuity through an important period for the company. Mr
Cornish will take over the role of Chair from 1 October 2023.
Since Mr Cornish joined as Group CEO in 2010, MAG has developed
into the UK's largest airports group and delivered significant
growth and investment, including the acquisition of London Stansted
Airport in 2013, the launch of Manchester Airport's GBP1.3bn
transformation programme in 2015 and the development of a digital
travel services business, CAVU.
Following the acquisition of London Stansted, MAG grew passenger
numbers at its three airports by 45% to a peak of 62.2 million in
the year before the pandemic, with these recovering close to
pre-pandemic levels in recent months. MAG has also developed an
industry-leading approach to corporate social responsibility,
including achieving carbon-neutral operations across the Group in
2015.
The MAG Board would like to thank Sir Adrian for his significant
contribution to the success of the Group since 2014, including
guiding the organisation through the challenges associated with the
pandemic over the last few years.
Sir Adrian Montague, Chair of MAG, said: "After helping to guide
MAG for nearly a decade, especially through the pandemic, and with
succession to the key roles now secured, my job is essentially done
and now is the right time to hand over the Chair to Charlie. The
speed with which people and businesses have returned to
international travel shows the bright future for aviation and for
MAG in particular. I want to thank everyone across the company for
the hard work and passion they bring every single day, and to wish
Ken and Charlie the best as they take forward this next chapter for
the business."
Charlie Cornish, Group CEO of MAG, said: "The last 13 years have
been an incredible time for aviation. We've seen fantastic
opportunities and some unprecedented challenges. Through all that,
it's been a great privilege for me to build and lead the UK's
largest airports group, working with a fantastic team of colleagues
to grow the organisation and our contribution to the UK economy. I
am delighted that Ken will be succeeding me as CEO, and I look
forward to supporting MAG's continued growth as its Chair over the
coming years."
Ken O'Toole, Deputy CEO of MAG, said: "This is an exciting time
to be taking the reins for the next stage in MAG's development.
Having delivered a successful recovery over the last year, the
outlook for our three airports and our digital business, CAVU, is
really strong.
"Manchester, Stansted and East Midlands play vital roles in
their regions, and our brilliant people, supportive investors and
clear plans for growth - both in the UK and overseas - mean we are
primed to make the most of these opportunities. I'm pleased to be
leading MAG through this next phase, working with our customers,
communities, airlines and stakeholders to deliver a great passenger
experience and sustainable growth."
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June 14, 2023 08:00 ET (12:00 GMT)
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