Hillyard stays on amid Hellenic management changes

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Nick Hillyard is to stay on as consultant to Hellenic Duty Free Shops, as sweeping management changes are made at the Greek duty-free retailer.

As exclusively revealed by Duty-Free News International last week, the board of joint venture management company GTM resigned last week following protracted problems with Hellenic directors and shareholders. GTM is a partnership between Aer Rianta International (ARI), Gebr Heinemann and Kappé Schiphol owner Jacques Parson.

The GTM contract is being changed to a consultancy agreement, and still lasts until 2004.

Parson told TRW: "Under the previous management, GTM had two executive board positions at Hellenic. Now we have one non-executive director, Gemma Whelehan of ARI, who will consolidate the consultancy role. And Nick Hillyard will remain involved as part of our consultant team. We will meet the Hellenic board in the coming weeks to define what our role and tasks are. The shape of the consultancy team will depend on what other roles we are asked to perform."

Dismissing criticism of the GTM board by Hellenic shareholders, Parson added: "We are ahead of our five-year budget plan at this stage."