International team leaves Hellenic amid big changes

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Exclusive: By Martin Moodie

Sweeping management changes are being made at Hellenic Duty Free Shops in Greece following protracted problems between shareholders, board members and the joint venture management company, GTM, which runs the operation.

TRW understands that GTM's contract is set to change from a management partnership to a consultancy agreement only. As a result, GTM's international management team is leaving. That team includes experienced duty-free executives Frank O'Donovan, Nick Hillyard, Pierre Viarnaud and several others.

No decisions have been revealed on the nature of the consultancy or who will manage it.

GTM, a partnership between Aer Rianta International, Gebr Heinemann and Jacques Parson, owner of Kappe Schiphol, was awarded a five-year management contract last November to run all Hellenic's airport retail shops.

• Full background to the changes will be included in a forthcoming issue of Duty-Free News International.