Investor revolt to force John Menzies split

ACTIVIST investors are calling for John Menzies to split in two and hire a chairman.

The distribution firm, which started as a bookshop in 1833 but now focuses on airport logistics, is facing mounting pressure from German-based Shareholder Value Management (SVM).

SVM’s demands follow similar calls made last year by Swiss investment firm Lake Street Capital. The German fund has built up a 7pc stake in John Menzies and said the company should be split to separate its newspaper and magazine distribution business from its aviation services arm. SVM is calling for a new, independent chair after Dermot Jenkinson replaced Iain Napier in the role in May. Jenkinson has agreed to do the job for a year and help find a chairman. Shares rose 0.3pc, or 1.5p to 556.5p.