6th Sep 2007 07:01
Punch Taverns PLC06 September 2007 Punch Taverns plc Re:Directorate The Board of Punch Taverns Plc ("Punch" or "the Group") today announces thatRobert McDonald is retiring as Finance Director. Robert (52) was appointed Finance Director of Punch Taverns in 2002, shortlyprior to the Group's flotation, having held the position of Finance Director ofthe leased and tenanted division of Punch Group since 1999. He first joined theindustry in 1982, and worked in various roles for Allied Domecq, latterly asFinance Director of Allied Domecq Inns from 1995 until that company was acquiredby Punch in 1999. Robert will be replaced by Phil Dutton, (45), (ACA), who joined the Board ofPunch as a Non Executive Director in January 2007. It is anticipated that Robertwill leave the Group in October 2007 after a suitable handover to his successor. Phil will become an Executive Director on 10 September 2007. He brings with hima wealth of experience of consumer-facing businesses from some of the UK'sleading retailers. Phil was formerly Finance Director of Matalan plc from 2002to 2007 during which time he was responsible for driving improvements tooperational cashflows and efficiencies, particularly in the area of stockflowwhere notable reductions in cover and markdowns were achieved. Prior to this, he held a number of senior positions within both Finance and ITat Asda Group PLC, from 1990 to 2002, culminating in the role of BusinessIntegration/IT Director from 1999 to 2002. From 1985 to 1990, Phil was an auditmanager with PriceWaterhouseCoopers. From 1982 to 1985 he worked for PannellKerr Forster. The Board would like to express its gratitude to Robert for the significantcontribution which he has made to Punch during his time with the business andwishes him well in his future endeavours. It is the Group's intention to appoint an additional Non Executive Director tothe Board in due course. A search is well underway and it is anticipated that areplacement will be announced shortly. Giles Thorley, Chief Executive, said: "Robert has been an extremely valued member of the team and I would like tothank him personally for his outstanding commitment and dedication during whathas been a time of exceptional growth for the Group as we have continued tobuild the UK's premier pub company. "We couldn't wish for a better successor in Phil Dutton. He has had time to getto know our business and brings with him exceptional financial experience,together with a considerable pedigree with some of the UK's leading retailerswhich will be invaluable to Punch's future development." 6 September 2007 Enquiries: Punch Taverns plc Tel: 020 7255 4002Giles Thorley, Chief ExecutiveRobert McDonald, Finance Director College Hill Tel: 020 7457 2020Justine WarrenMatthew Smallwood This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Punch Taverns PLC