An experienced corporate financier is to join Southend airport owner Stobart Group as chairman-elect.

David Shearer, who is to become a non-executive director from June 1, was previously senior partner of Deloitte for Scotland and Northern Ireland, and a UK executive board member of the firm.

He is currently non-executive chairman of Speedy Hire, the Scottish Edge Fund and Aberdeen New Dawn Investment Trust.

Shearer will take over as chairman when Iain Ferguson steps down at the firm’s annual meeting, a date for which had et to be set.

Ferguson said: “I am pleased to be handing over as chairman to David after the next agm.

“He has considerable experience which will help chief executive Warwick Brady and the team to implement the group’s strategy and deliver our ambitious growth targets.

“Stobart Group is a much-changed business since I joined six years ago, and one that is now very focused and well-positioned to deliver value to shareholders. “

Shearer added: “I am delighted to be joining the board of Stobart Group as it executes its strategy.

“Two things are clear to me. Firstly, that Stobart Group is successfully growing two excellent businesses: aviation and energy.

“Secondly, that there is a need to unify the shareholders behind the strategy. I look forward to working with Warwick Brady and the board in growing long-term value for all shareholders.”

Stobart Group is part of the Connect Airways consortium alongside Virgin Atlantic and US hedge fund Cyrus Capital in March.