Mitchells & Butlers announces that Chief Executive, Adam Fowle, is to leave the Company by mutual consent after a period of two years in the post.
A search process is underway to identify a successor, which will be announced in due course. In the meantime Jeremy Blood, who is currently a non-executive director on the Board, will take on the role of Interim Chief Executive until a permanent successor is appointed. Adam will remain with the Company for a period to ensure an orderly and effective transition.
The Company will continue to focus on its strategy to develop and grow Mitchells & Butlers' market leading brands.
The Company is performing in line with the Board's expectations and will announce Half Year Results on 20 May 2011.
Simon Burke, Chairman, commented:
"Adam has made a significant contribution over a number of years to Mitchells & Butlers and in particular in the past two years, developing and leading the strategic change the Company has undertaken whilst maintaining a strong operational performance in challenging conditions. He leaves the Company in a much stronger position than when he took over as Chief Executive and we wish him all the best for the future."
"Jeremy has significant industry and corporate experience and I look forward to working with him during this interim period."
For further information:
|Corporate Affairs:||Erik Castenskiold||0121 498 6513|
|Media:||James Murgatroyd (Finsbury Group)||0207 251 3801|
Notes for editors:
Jeremy Blood was appointed a Non-Executive in January 2010, Jeremy was Managing Director at Scottish & Newcastle (S&N) from 2007 until May 2009, having been at S&N since 1988. He joined initially as Brand Manager for Beer Marketing. Subsequently he held various roles such as Sales & Customer Service Director, Strategy & Marketing Director, Director of Corporate Affairs and Managing Director for S&N Pub Enterprises.
Mitchells & Butlers is the leading operator of restaurants and pubs in the UK. Its leading portfolio brands includes Harvester, Toby Carvery, Vintage Inns, Premium Country Dining Group, Crown Carveries, Sizzling Pubs, Browns, Miller & Carter, Metro Professionals, All Bar One, Nicholson's, O'Neill's and Ember Inns. Further details are available at www.mbplc.com and supporting photography can be downloaded at www.mbplc.com/imagelibrary.