Lovering to step down as Mitchells and Butlers chairman
Mitchells and Butlers (M&B) chairman John Lovering is to leave the company after a year, it has announced this morning.
Lovering will also step down as a director of the company and is set to leave later this year.
M&B said its non executive directors, under the leadership of Simon Burke, would begin the process to find a successor.
Lovering was appointed at M&B's AGM last year after a protracted battle between the then-board and some investors over the business's strategy.
His tenure saw him accelerate a food-led strategy, and a focus on fewer brands.
Commenting on his depature, 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."
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By Neil Gerrard
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