SP Plus Corporation Announces 2023 Leadership Changes To Accelerate Future Growth

CHICAGO, Nov. 15, 2022 (GLOBE NEWSWIRE) -- SP Plus Corporation, a provider of technology-driven mobility solutions for aviation, commercial, hospitality and institutional clients throughout North America and Europe, today announced several leadership changes intended to best position the Company to benefit from the growth opportunities on the horizon. These changes, which will take effect on January 1, 2023, are in line with the Company’s strategy to accelerate its growth by leveraging its robust parking and transportation operations, expanding its software and technology services, and building its global footprint.

Marc Baumann, Chairman and Chief Executive Officer, stated, “As part of our succession planning process, we have given careful consideration on how to best structure and organize SP+ for the future as we drive the digital transformation of our industry and strengthen our role in the development of smart cities. We are confident that these leadership changes will provide the Company with outstanding leadership across the breadth of our service offerings well into the future.”

Commercial Division

Chris Sherman will become President of the Commercial Division. Mr. Sherman joined the Company as an Operations Manager in 2001 and rose steadily through the ranks to become Senior Vice President of East Operations. Most recently, he was appointed Chief Strategy Officer for the Commercial Division. In this role, he has been instrumental in developing the Division’s growth strategy and helping the Company optimize delivery of technology products and mobility services, including the Sphere® brand. Going forward, the leadership of the Company’s Commercial Division will report to Mr. Sherman.

Mr. Baumann noted, “Throughout his tenure at SP+, Chris has successfully applied strong strategic and tactical skills across several geographic operating divisions. In his current position as Chief Strategy Officer for the Commercial Division, he has played a key role in developing and activating our Sphere-centric technology strategy to propel the Division’s growth.”

In his new role, Mr. Sherman will continue to lead strategic planning for the Commercial Division while day-to-day operations will continue to be led by Jim Buczek, Chief Operations Officer of the Commercial Division, who will report to Mr. Sherman.

Rob Toy will assume the role of Executive Advisor to the Commercial Division. Mr. Toy joined the Company in 1998 and has served in various leadership positions. In 2016, he was appointed to his current role as President of the Commercial Division, a position that consolidated all of the Company’s commercial operations under a single leader. During his tenure, Mr. Toy led the Commercial Division to record results.

Aviation Division

Ritu Vig will become President of the Aviation Division. Ms. Vig joined SP+ in 2018 as Senior Vice President and Deputy General Counsel, and was promoted in 2019 to Chief Legal Officer and Corporate Secretary. In 2022, she assumed leadership for the Company’s transformation priorities and acquisition strategy in addition to leading the Company’s diversity, equity and inclusion initiatives. Prior to joining SP+, Ms. Vig acquired extensive experience across a broad array of business areas in various roles at R.R. Donnelley & Sons Company and the Wm. Wrigley Jr. Company.

Mr. Baumann stated, “On the aviation side of our business, we are bringing together our Airport and Bags leaders under a single Aviation Division executive with the purpose of more fully realizing our potential through aligned strategic planning and execution. Since joining SP+ in 2018, Ritu has demonstrated strong business acumen, crisp strategic thinking, and keen leadership and team-building skills, all of which make her a perfect fit to help us achieve those goals as President of the Aviation Division.”

In her new role, Ms. Vig will oversee a talented group of senior leaders, including Bob Miles, Bob Reiser and Jason Finch. Mr. Reiser and Mr. Finch, who have been serving as Senior Vice Presidents of Airports East and West, respectively, will assume leadership of those areas as the President of Airports (East) and President of Airports (West), respectively. Bob Miles will continue in his role as President of Bags®.

Jack Ricchiuto will assume the role of Executive Advisor to the Aviation Division. Mr. Ricchiuto joined the Company in 1980 and served in several leadership roles. He has led the Company’s Airport Division since 2003. During his tenure, the Airport Division has grown to be the industry leader.

Legal and Corporate Governance

Wenyu Blanchard will become the Chief Legal Officer and Corporate Secretary. Ms. Blanchard joined SP+ as Vice President, Associate General Counsel in 2021, and currently oversees the legal activities for the Company’s Commercial and Aviation Divisions and the Growth and Revenue and Information Technology groups. She brings more than twenty years of experience in numerous areas, including complex commercial transactions, corporate governance, intellectual property, privacy, ethics and compliance.

“Wenyu’s exceptional legal skills, diverse experience and proven success creating high-performing teams will be a tremendous asset as we drive growth at SP+. I am pleased to welcome her to the executive leadership team,” said Mr. Baumann.

In conclusion, Mr. Baumann stated, “We are confident that the changes we have announced today will serve the Company well. At the same time, we are very fortunate that Rob Toy and Jack Ricchiuto will remain with the Company in roles that will enable them to continue mentoring our talented team members. For that, I want to express my personal gratitude.”