Chairman to leave Mitchells & Butlers
Mitchells & Butlers’ chairman has announced that he will step down after just 12 months in the role. The Birmingham-based pubco said that John Lovering would remain in his position to help appoint a successor.
The non-executive directors of the company, led by senior independent director Simon Burke, have begun the search for a new chairman.
Lovering joined Mitchells & Butlers as chairman at the company’s AGM last year.
In the last year, Mitchells & Butlers has raised more than £550m from disposals, achieved stronger capex returns and improved operating margins.
Lovering said: "It has been a huge privilege to be chairman of Mitchells & Butlers. The company is now on a much firmer footing than when I joined last year. Our board is strong and we have strengthened our executive team with five new executive committee members."
"Group profits have improved significantly in the last year thanks to our focus of switching from volume to spend per head and our core brands are successfully implementing their site expansion goals. We are continuing to trade well and gain market share. I would like to wish the business and its employees every success for the future."
