Shipping and Costcutter tycoon Sir Michael Bibby is standing down from his billion-pound 211-year-old household enterprise, the ECHO can reveal.

Millionaire baronet Sir Michael is the sixth era of his household to run the Bibby Line Group, which immediately has investments in areas from transport traces to nook outlets and monetary companies.

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Now Sir Michael is planning to step again as managing director earlier than the top of the yr, giving loads of time for a successor to be employed.

The £1.2bn Bibby group is greatest recognized for its transport line, which nonetheless ships oil and different cargoes world wide.

But it additionally owns Costcutter Supermarkets Group, whose members between them run greater than 2,600 comfort shops throughout the UK. Costcutter manufacturers additionally embody Mace and Simply Fresh.

Other companies embody Bibby Financial Services and warehouse and transport agency Bibby Distribution.

The Bibby group was based in 1807 by John Bibby, who grew to become certainly one of Liverpool’s most influential businessman however was murdered in a still-unsolved assault on July, 1840.

Sir Michael grew up with the household enterprise however didn’t be part of it immediately, as a substitute qualifying as a chartered accountant earlier than happening to work for Unilever.

He joined the household agency in 1992 as finance director of Bibby Line, ultimately changing into group MD in 2000.

Sir Michael can be closely concerned with the Princes Trust and with Mersey Maritime, which represents the native transport business.

In January the group introduced it was leaving the oil and fuel sector. Aberdeen-based Bibby Offshore, which works within the North Sea oil fields, was break up off from the dad or mum Bibby Line Group to grow to be a standalone enterprise.

In November, following the collapse of wholesale agency Palmer & Harvey, Costcutter introduced an enormous new cope with Co-op to retains its shops provided with items.

Sir Michael, 54, will keep on the Bibby board as a non-executive director as soon as he leaves as MD.

Liverpool transport and Costcutter tycoon Sir Michael Bibby is standing down after 26 years

Shipping and Costcutter tycoon Sir Michael Bibby is standing down from his billion-pound 211-year-old household enterprise, the ECHO can reveal.

Millionaire baronet Sir Michael is the sixth era of his household to run the Bibby Line Group, which immediately has investments in areas from transport traces to nook outlets and monetary companies.

Now Sir Michael is planning to step again as managing director earlier than the top of the yr, giving loads of time for a successor to be employed.

The £1.2bn Bibby group is greatest recognized for its transport line, which nonetheless ships oil and different cargoes world wide.

But it additionally owns Costcutter Supermarkets Group, whose members between them run greater than 2,600 comfort shops throughout the UK. Costcutter manufacturers additionally embody Mace and Simply Fresh.

Other companies embody Bibby Financial Services and warehouse and transport agency Bibby Distribution.

The Bibby group was based in 1807 by John Bibby, who grew to become certainly one of Liverpool’s most influential businessman however was murdered in a still-unsolved assault on July, 1840.

Sir Michael grew up with the household enterprise however didn’t be part of it immediately, as a substitute qualifying as a chartered accountant earlier than happening to work for Unilever.

He joined the household agency in 1992 as finance director of Bibby Line, ultimately changing into group MD in 2000.

Sir Michael can be closely concerned with the Princes Trust and with Mersey Maritime, which represents the native transport business.

In January the group introduced it was leaving the oil and fuel sector. Aberdeen-based Bibby Offshore, which works within the North Sea oil fields, was break up off from the dad or mum Bibby Line Group to grow to be a standalone enterprise.

In November, following the collapse of wholesale agency Palmer & Harvey, Costcutter introduced an enormous new cope with Co-op to retains its shops provided with items.

Sir Michael, 54, will keep on the Bibby board as a non-executive director as soon as he leaves as MD.

It received’t be the primary time the group has been led by a non-family member. Sir Michael…

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