JOHN HARVEY, 68, was staring at a £16 million payout yesterday on news that Tibbett & Britten Group was to be taken over. But Tibbett’s executive chairman made no secret of the fact that although Exel’s bid was in Tibbett shareholders’ best interest, it was not his preferred option.
Harvey had hoped to retire from Tibbett at the end of this year, after 20 years at the helm of the logistics group, and hand over to a new generation that could take the Tibbett business further. That dream was derailed by Tibbett’s poor performance last year — rendering it vulnerable to a takeover — and Harvey was quick yesterday to accept his share of the blame. As he prepares to leave Tibbett, the keen hillwalker says he will take time to reflect: “I have been working 6½ days a week and up until three weeks ago there was no thought that Tibbett would be taken over.” Harvey’s other roles, including director of Sygen International, chairman of the Third World charity Transaid, and visiting professor of the Cranfield Centre for Logistics and Transportation, should keep him busy.