Mitchells & Butlers chairman to step down in May

Pub company Mitchells & Butlers’s (M&B) under-fire chairman is to step down from the company at the end of May.

Roger Carr was attacked by shareholders last week after it was revealed he had taken on another non-executive position, this time at confectioner Cadbury’s, which takes his current total to five.

Shareholders were angered by the timing of the announcement, which comes just weeks after M&B ran up a £274m loss on hedging arrangements in a botched property deal with property tycoon and investor Robert Tchenguiz.

The company is currently conducting a strategic review of its options and will announce its findings in May, at which time Carr will leave his role.

Industry pundits believe a sale is likely, either to rival Punch Taverns or one of several private equity companies circling the weakened operator.

Carr will be replaced by Drummond Hall on departure, the senior independent non executive director at the company who has been appointed deputy chairman with immediate effect.

Drummond was previously chief executive of Dairy Crest and has also worked as managing director at the beer and cider division of H P Bulmer.

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By Chris Druce

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