David Frankish is stepping down as CEO after 22 years in charge of chilled logistics operator NFT.
He will continue in the role until the end of the year, after which he will become vice chairman of NFT, overseeing strategic customer development as well as mergers and acquisitions. Frankish will also act as senior advisor to NFT’s private equity owner EmergeVest.
Frankish has worked at NFT for over 30 years and since he became CEO in 1995, the company has increased its turnover from £52m to £220m.
He will be replaced by COO Ross Eggleton, who joined the company in June. Former Morrisons supply chain boss Eggleton becomes deputy CEO with immediate effect ahead of stepping up to become CEO on 1 January.
Eggleton worked for Morrisons for nine years until leaving in May. He was appointed group supply chain and logistics director in 2015.
He has also held senior roles at Asda and the Lloyd Fraser Group.
“We would like to thank David for all he has contributed to NFT’s success and we are pleased to welcome him as a senior advisor to EmergeVest,” said NFT chairman and EmergeVest MD Heath Zarin. “We are highly confident in Ross and his ability to lead NFT through its next phase of strategic development.
“The senior management team has already been strengthened during 2017, and is unrivalled in its capabilities within the market. In partnership with the group’s banking partner Investec, EmergeVest has already committed significant capital to finance NFT’s growth plans, which include further acquisition opportunities and expansion of current business activities across Europe and Asia.”