Regulatory Story
Go to market news section View chart   Order free annual report   Print
Company Punch Taverns PLC
TIDM PUB
Headline

Board and Management changes

Released 07:00 24-Jan-2013
Number 2466W07

RNS Number : 2466W
Punch Taverns PLC
24 January 2013
 



Punch Taverns plc ("Punch" or "the Group")

24 January 2013

 

Punch Taverns plc

Board and Management changes

 

Punch Taverns announces that Roger Whiteside has informed the Board of his intention to resign as Chief Executive and will step down from the board with effect from Friday 1 February 2013, to take up the position of Chief Executive of Greggs plc.  Roger is currently a Non-executive Director of Greggs plc.

 

To ensure continuity in the leadership of Punch, particularly during the ongoing capital structure discussions, Stephen Billingham has been appointed as Executive Chairman and Neil Griffiths has been appointed as Chief Operating Officer, with immediate effect.  Consequently, a new Chief Executive Officer will not be appointed at this time.  

 

Stephen Billingham has been Non-executive Chairman since September 2011.  Neil Griffiths has been Punch's Property and Turnaround Director and has been with the Group since 2001.  He has 25 years' experience in the leisure and hospitality industry having held senior management roles in Warner Brothers and Bass.

 

Punch's current trading performance remains in line with the Board's expectations.  Led by Finance Director, Steve Dando, the Group is continuing its discussions with significant stakeholders and expects to make another announcement about its capital structure in due course.

 

Stephen Billingham, Chairman, said

 

"I would like to thank Roger for his significant contribution to the Group over the last 4 years.  Roger and the Board have set out a clear operational plan to return the core estate to growth and maximise value from our non-core assets.  I am confident that with the appointment of Neil Griffiths as COO and with the experienced management team in place at Punch we will continue with the progress we are making in delivering on these key strategic goals.  The Board wishes Roger every success in his new role."

 

- ENDS -

ENQUIRIES:

Punch Taverns plc

Tel: 01283 501 948

Stephen Billingham, Executive Chairman

Steve Dando, Finance Director

 

Brunswick Group LLP

Tel: 0207 404 5959

Mike Smith

Sophie Brand

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
BOADXLFLXFFZBBD
Close
London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.

Board and Management changes - RNS