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Bridge steps down after 45 years with Greene King

Tue, 02nd Feb 2016 08:12

(ShareCast News) - Greene King was losing its leading man on Tuesday, with the announcement that - after 45 years at the company, and 10 at the helm - Tim Bridge was stepping down as chairman.The FTSE 250 pub and brewing firm's board said Philip Yea would join the board on Tuesday as a non-executive director, before taking over as chairman on 2 May.Yea would initially be appointed as a member of the nomination and remuneration committee. Upon becoming chairman in May, he would take over as chairman of the nomination committee and resign from the remuneration committee, the board said."I joined Greene King in 1970 and have been the chairman since 2005, following more than ten years as the chief executive", said Tim Bridge of his time with Greene King."I feel very fortunate to have spent my whole career working for a great company which has grown from being a regional brewer, to one of the UK's leading pub hospitality companies", he added.Senior independent non-executive director Rob Rowley said Yea had a wealth of industry knowledge.Philip Yea was currently senior independent director at both Vodafone Group and Computacenter, and also a non-executive director of Aberdeen Asian Smaller Companies Investment Trust. He also remained an independent director and trustee of the Francis Crick Institute.Recently, Yea stepped down as chairman of bwin.party following the successful completion of its acquisition by GVC Holdings. From September 2014 to June 2015 he was also a member of the supervisory board of Rocket Internet SE, a German listed company.Yea's experience in the beverages sector was also extensive, having worked for Guiness through its merger in GrandMet in 1997 to form Diageo."I am delighted to be joining Greene King, and it will be an honour to succeed Tim Bridge when he retires as chairman", said Yea."Greene King is admired for its brands and people, and I am looking forward with Rooney and the rest of the board in the next stage of its progress as a leading pub hospitality company", he added.

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