Board Composition and new Chairman
The Company has resolved that Richard McGuire should step down from his position as a Director of Mitchells & Butlers appointed by Piedmont Inc. The intention is that subsequently Denis Jackson, Ray MacSharry and Douglas E McMahon will also cease to be Directors of Mitchells & Butlers.
The Board has also resolved to appoint Simon Laffin, Senior Independent Director, as Chairman of the Company, with immediate effect, to succeed Drummond Hall, who had earlier indicated his intention to retire. Drummond has agreed to continue to serve as a Non Executive Director until the Board has been further strengthened.
Simon Laffin, Chairman, said: "We are moving swiftly and decisively to protect the interests of all shareholders and to maintain a sharp focus on operations."
Drummond Hall said: "Simon was one of the shortlisted candidates for the Chairmanship and I am delighted that he is taking over, confident that he will work tirelessly for all our shareholders."
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Notes for editors:
Mitchells & Butlers owns and operates around 2,000 high quality pubs in prime locations nationwide. The Group's predominantly freehold, managed estate is biased towards large pubs in residential locations. With around 3% of the pubs in the UK, Mitchells & Butlers has 10% of industry sales and average weekly sales per pub almost four times greater than that of the average UK pub.
Mitchells & Butlers' leading portfolio of brands and formats includes Ember Inns, Harvester, Sizzling Pub Co., Toby Carvery, Vintage Inns, Crown Carveries, All Bar One, O'Neill's, Nicholson's and Browns. In addition, Mitchells & Butlers operates a large number of individual city centre and residential pubs.
For further information, please contact:
+44 121 498 6513
James Murgatroyd (Finsbury Group)
+44 207 251 3801