UK: Punch Taverns CEO quits
Punch is not planning to replace Whiteside "at this time"
The CEO of Punch Taverns, the UK's biggest pub company, is leaving after 18 months in the role.
Roger Whiteside will step down on 1 February to join UK pastry chain Greggs, Punch said today (24 January). Whiteside, who joined Punch in 2008 as MD of its leased division, is a non-executive director of Greggs.
Punch, which owns around 4,500 UK pubs, said that a new CEO will “not be appointed at this time”, citing the need for “continuity” in leadership, during “ongoing capital structure discussions”.
Instead, the group's chairman, Stephen Billingham, has been appointed as executive chairman. Property and turnaround director Neil Griffiths has been promoted to COO.
The company said its current trading performance is “in line with the board's expectations”.
Shares in the group were today down by 2.22% at GBP0.11.
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