7th Jul 2008 07:00
PUNCH TAVERNS PLC
("Punch" or "the Group")
Re: Directorate
Following the successful completion of the conversion of managed pubs to lease and the creation of a more streamlined managed business, we are today announcing that Andrew Knight, the Managing Director of Spirit, will be leaving the business. Andrew has been instrumental in delivering the Spirit business through a huge change programme reducing the division from over 1,800 pubs at acquisition to 863 today. We are extremely grateful to Andrew for his excellent service to Spirit over many years and wish him all the best for his future career.
Andrew will today be replaced by Mr Michael Tye as Managing Director of Spirit and who will also join the PLC Board as an Executive Director Mike has nearly 20 years' experience in the leisure industry, notably with Whitbread, Aramark and Forte. He has considerable experience in the Pub and Pub Restaurant markets, as well as the Casual Dining sector. In recent years, he has led the growth and industry-leading performance of Costa Coffee; the acquisition and integration of Premier Lodge to create Premier (Travel) Inn; and further improved the performance of David Lloyd Leisure. We believe Mike's skills are well placed to continue to drive the future growth of the Spirit Business.
No information is required to be disclosed in respect of Michael Tye pursuant to Listing Rule 9.6.13R (1) to (6).
Giles Thorley, Chief Executive, of Punch Taverns commented:
"I would like to take this opportunity to thank Andrew on behalf of the Board for his commitment to the Group in leading Spirit through a significant period of integration over the last couple of years as we continue to build the UK's premier pub company.
"I would also like to welcome Mike to the Group. Mike has a long and diverse career in the leisure retail sector and brings with him exceptional experience which will be invaluable to the Group in taking Spirit to the next stage of its development."
7 July 2008
ENQUIRIES:
|
Punch Taverns plc |
Today: 020 7457 2020 |
|
Giles Thorley, Chief Executive |
Thereafter: 020 7255 4002 |
|
College Hill |
Tel: 020 7457 2020 |
|
Justine Warren |
|
|
Matthew Smallwood |
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