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Hertz man takes Speedy’s chair

16 Oct 14 The board of plant and tool hire chain Speedy has chosen former Hertz boss Jan Astrand as its new chairman.

Jan ...strand is Speedy's new chairman
Jan ...strand is Speedy's new chairman

He will join the board on 1st November and will succeed Ishbel Macpherson as chairman on 11th November 2014.

Mr Åstrand is also chairman of easyHotel plc and a non-executive director of Northgate. He was a non-executive director of Lavendon Group (parent company of access hire firm Nationwide) from 2010 until earlier this year.

His executive experience includes roles as president and chief executive of Axus International (previously known as Hertz Leasing International) from 1994 to 1999 and chief financial officer of Hertz (Europe) Ltd from 1989 to 1994).

Ishbel Macpherson said: “Jan brings enormous experience and his focused, strategic approach will be invaluable to the Board and the executive team as Speedy focuses on the delivery of sustainable profitable growth.”

At the same time, Speedy also issued a trading update ahead of its interim results for the six months ended 30th September 2014 which will be announced on 11th November 2014. It said that UK revenues for the first half were up 11% year-on-year and the level of contract bidding remains high.

In the International Division, revenues were up 31% and remedial actions implemented in the Middle East by the new management team, put in after the discovery of accounting irregularities there last year, are having a positive effect. However, the flow through to profitability is taking longer than expected, Speedy said.

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