UK: Mitchells & Butlers chief executive to step down
Chief executive Adam Fowle will leave Mitchells & Butlers by mutual consent
The CEO of Mitchells & Butlers is to stand down, less than two years after assuming the role.
The UK on-trade operator confirmed early today (16 March) that Adam Fowle, who initially became chief executive in May 2009 on an interim basis, is to leave the company by mutual consent. Jeremy Blood, the former MD of Scottish & Newcastle in the UK and a non-executive member of M&B's board, will take on the role of interim chief executive until a permanent successor is appointed. Fowle, whose medium-term future movements were not disclosed, will remain with the company for an unspecified period, “to ensure an orderly and effective transition”.
M&B's chairman, Simon Burke, noted that Fowle had made “a significant contribution” to the firm, “in particular in the past two years”.
“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,” Burk added.
Earlier this year, M&B announced that its chairman, John Lovering, was also stepping down.
For M&B's last set of full-year results, click here.
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