SSP Group plc (LON:SSPG), a leading operator of restaurants, bars, cafes and other food and beverage outlets in travel locations across 37 countries, has announced that, after 20 years of service, Jonathan Davies, Deputy Chief Executive Officer and Chief Financial Officer, has given the Board notice of his intention to retire. Today, we also announce that Geert Verellen will join the Company in early April 2025 as CFO Designate.
Jonathan has been the Group Chief Financial Officer of SSP since its original formation within Compass Group in 2004, through its period of private ownership by EQT, its IPO on the London stock market in 2014, and its subsequent transformation into the leading global food travel business it is today. He was appointed Deputy Chief Executive Officer in 2021 and played a key role in successfully navigating the business through the unprecedented challenges of the Covid-19 period. During his tenure, SSP has expanded its footprint into many new regions, including North America, India, Australia, the Middle East, and a number of South-East Asian markets.
Geert has extensive financial and operational experience in international consumer, food and retailing companies, most recently as Chief Financial Officer from 2020 to 2024 at Maple Leaf Foods Inc, a listed multi-national food manufacturing company in Canada. Prior to this, he served as Regional CFO at Walmart Inc overseeing finance operations in Canada, Japan & India from 2015 to 2019. Between 2002 and 2015, Geert held multiple senior finance roles at Delhaize Group, including Senior VP of Finance for Delhaize Belgium, VP of Group Investor Relations, and Director of Accounting of the Belgium operations. He began his finance career at PricewaterhouseCoopers, working in the US and Belgium. Geert has a Masters in Commercial Engineering and a Certificate in Applied Economics and Accountancy, from the University of Antwerp.
Geert will assume the role of Chief Financial Officer and join the Board from 9 June 2025. To ensure continuity and a smooth transition, Jonathan has agreed with the Company that he will remain on the Board until 30 September 2025 and will continue in his role as Deputy CEO until the end of December 2025, which will enable us to benefit from his deep experience of SSP’s business and his executive leadership of Travel Food Services, SSP’s joint venture in India, through the execution of its planned IPO and its transition to becoming a successful listed business.
Mike Clasper, Chair, said:
“On behalf of the whole Board, I would like to recognise Jonathan’s extraordinary achievements over his 20-year career at SSP. In particular, he has my utmost gratitude for the way he stepped up to navigate the business successfully through the exceptional challenges of Covid-19, during which time he also acted as CEO for a period. We wish him the very best for his retirement and for what will no doubt be a very successful non-executive career.
“Following a rigorous selection process, we are pleased to appoint Geert Verellen as incoming CFO. Geert will complement our strong Group and finance leadership teams as we execute our strategy. With his extensive international experience and his impressive financial and operational skillset he will be a welcome addition to our Board.”
Patrick Coveney, Group CEO, said:
“Jonathan is a legend at SSP, and – as a leader and a personality – he has been integral to the success of SSP since its formation more than 20 years ago. It has been a privilege for me to work with and learn from him since I joined the business in 2022. He will leave an enduring legacy: a well-earned reputation for thought leadership across the food travel industry, a strong finance team, and a deeply embedded culture and set of processes to drive performance and capital returns. His friendship, enthusiasm, resilience and sense of humour will be missed by all at SSP.
“I am delighted to welcome Geert to our team. He is a highly experienced financial leader, with significant and relevant industry, functional and international expertise, and a management style that will enhance and complement our Board and Executive Committee. We look forward to welcoming him to the business and are delighted that Jonathan will remain with us until December to facilitate a smooth transition and support us in the delivery of our previously announced FY25 plan.”
Jonathan Davies, Deputy Group CEO and Group CFO, said:
“It has been my great privilege to serve as CFO of SSP for the last 20 years. I am very proud of the strong business that we have built, our successful global expansion and our financial track record. Above all, it has been my great pleasure to work with such a talented group of colleagues across the globe and I would like to thank them deeply for all the support they have given me over the years. I look forward to continuing to work with Patrick and our teams throughout the rest of the year. As I hand over to Geert, I have every confidence that the business is in good health and well-placed to deliver future growth and returns.”
Geert Verellen, Group CFO designate, said:
“I am honoured to have been appointed as CFO of SSP. This is a fabulous business, and I am thrilled to have the opportunity to contribute to its growth and success. I look forward to working alongside my new colleagues to further strengthen the Group’s performance and enhance shareholder value.”
