People and Business: Leaving Ports

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The Independent Online
ANDREW SMITH unexpectedly missed out on the job of chief executive of Associated British Ports (ABP) after two years as managing director of the company's ports operations. The job instead went to Bo Lerenius from Stena Line. Mr Smith has decided to leave, with a pay-off of around pounds 200,000. Mr Lerenius master-minded the merger between Stena and P&O cross- channel ferry services.

Completing the changeover, Sir Keith Stuart, ABP executive chairman, is expected to become a non-executive in March next year.