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M&B chief executive quits
Mitchells & Butlers chief executive Adam Fowle has announced his unexpected departure, sparking rumours that tensions between the board and its major shareholders are rising once more.
After stepping into the post just two years ago, Fowle’s departure was described last week as being “by mutual consent”.
M&B chairman Simon Burke praised Fowle’s “significant contribution”, and highlighted his role in “developing and leading the strategic change the company has undertaken whilst maintaining a strong operational performance in challenging conditions.”
This latest departure comes within two months of the resignation of former chairman John Lovering, a year into his post. The pair had worked together on delivering a shift towards the pub company’s food-led establishments and on driving margins.
Fowle’s role has been temporarily filled by Jeremy Blood, currently a non-executive director, until a permanent successor can be appointed. Mitchells & Butlers confirmed that Fowle would remain with the company to help with the transition.
Gabriel Savage, 22.03.2011