Baldwins has appointed a new managing director and is looking for a new finance director.

Current finance director Ray Stidwell has told the board that he plans to leave the company as soon as his successor is selected.

More positively, Baldwins has appointed a new managing director to succeed Bruce Dawes who retired at the start of the year. Rick Barnett, aged 42, joins from GE TIP Europe, the trailer hire subsidiary of GE Capital.

Barnett will focus on the company’s UK activities, leaving chairman and chief executive Richard Baldwin to ‘concentrate more on strategy and the group’s overseas developments in particular’, the company said.

It added that Richard Baldwin intends, ‘in due course’, to split the two roles of chairman and chief executive.