Lastminute moves from a ‘finder’ to a ‘grinder’

This is according to a report today in the Guardian, which states that Stephen Gleadle, former Finance Director of IT firm, Synstar, is to take over from David Howell who has resigned from the online travel agent.

Howell apparently presided over a dramatic acquisitions spree which saw Lastminute.com buy 14 companies across Europe including Holiday Autos, Med Hotels, First Option and Gemstone Travel. In contrast, explains the Guardian, Gleadle is seen as a safe pair of hands while Lastminute.com integrates those businesses and concentrates on lowering costs.

A spokesman for Lastminute aptly summed up the new appointment as ‘a move from a finder to a grinder’.

Evidently, Synstar was bought by Hewlett-Packard in August last year and Gleadle quit after the merger went through in October. He had overseen the restructuring of the business, helping it to return to profitability.

"Gleadle’s experience of corporate change and strong financial leadership will be a great asset to Chief Executive, Brent Hoberman, and his team as they continue to integrate the recently acquired businesses," the Guardian quoted Lastminute.com's Chairman, Brian Collie, as commenting.