Steven Bartlett is to step down as chief executive of Coffee Republic, the company said today.
Bartlett, who was appointed to his role in October 2006 after a shareholder revolt forced out executive chairman Bobby Hashemi, will remain on the board as a non-executive.
Bartlett’s duties will be assumed by current executive chairman Peter Breach and the search for a full time replacement for Bartlett has been launched.
The changes are to come into effect at the company’s annual general meeting (AGM). A date for this has not yet been set but it is expected to be held in the next couple of months.
Bartlett is expected to be appointed vice-chairman at the AGM and he will continue to hold a substantial shareholding.
Coffee Republic said like-for-like sales in the first three months of the current financial year had increased by 2.5% driven by strong growth from its expanding portfolio of franchises.
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By Chris Druce
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