Caterer and Hotelkeeper 100: Ralph Findlay, Marston's
Overall ranking: 33 (ranked 33 in 2010)
Pub ranking: 3 (ranked 3 in 2010)
Ralph Findlay: Snapshot
Ralph Findlay is chief executive of Marston's, the former Wolverhampton & Dudley Breweries (W&D) business, which was renamed in 2007. Marston's operates about 2,400 pubs as well as brewing beers, including Pedigree and Hobgoblin.
As chief executive since 2001, Findlay has presided over a period of expansion that has seen the acquisition of brewers including Jennings Brothers, Ringwood and Wychwood, as well as pub groups Wizard Inns and English Country Inns.
In the 26 weeks to 2 April 2011, the business reported profit before tax up 5.0% to £29.2m on group revenue up 2.8% to £317.9m.
Ralph Findlay: Career guide
Findlay lived in Edinburgh until 1984 and completed a BSc in Geology at Edinburgh University. He worked as an exploration geologist for a year before qualifying as a chartered accountant in 1988. He worked at Price Waterhouse in London and in 1990 joined Bass as a treasury manager, and later at Geest as financial controller.
Findlay joined W&DB, now Marston's, in 1994. He was appointed finance director in 1996 and then chief executive in 2001.
Ralph Findlay: What we think
Perhaps the most visible sign of Ralph Findlay's stewardship of Britain's second-biggest integrated pub and brewing business remains the change of name from Wolverhampton & Dudley Breweries to Marston's in 2007.
The rationale for the name change was the strength of the Marston's brand, best known for its flagship beer Pedigree, and the smoothness of the rebranding is evidence of Findlay's clear vision for the business. The high regard with which the City holds Marston's chief executive and his senior team has seen the business steer a steady course through the recession, seen as a sound investment in a challenging sector.
All of which makes it more important to remember that the business which Findlay took over in 2001 was on far shakier ground. The acquisitions in quick succession of Marston, Thompson and Evershed followed by Mansfield Brewery, both negotiated while Findlay was finance director, had left W&D with high levels of debt. This made it vulnerable to predators, and one of Findlay's first tasks as chief executive was to fight a protracted takeover war with entrepreneur Robert Breare and rival operator Pubmaster.
Since then, the acquisitions of Jennings in Cumbria, Hampshire brewery Ringwood and Wychwood Brewery in Witney have put a focus on the brewing strategy, with multiple production sites enabling it to offer a full range of national, local and regional beers in its own pubs and the free trade.
Findlay also responded pro-actively to 2009's report into the tied pub model, announcing revised agreements in the group's tenanted and leased pub estate. More than 220 pubs have moved onto the new Retail Agreement, which operates along franchised lines, with around 600 expected to be trading on the new terms by the end of 2013. The agreement won accreditation from the British Franchise Association in June.
Marston's has also developed a new-build large pub restaurant model on the managed side of the business. These sites operate under Marston's ‘F-Plan' model a focus on food that means food now represents 41% - and rising - of sales in the managed estate. A building programme is underway which will see 60 such new build developments, and there is also a joint initiative in place between Marston's and Travelodge to co-develop new hotel and pub sites.
Ralph Findlay's ranking in the 2010 Caterersearch.com 100 >>
Marton's deal with Travelodge >>
Tenancy agreement accredited by British Franchise Association >>
Marston's full-year results >>
