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29 Jun 2011 10:00
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Punch Taverns plc
Board Appointments
The Board of Punch Taverns plc ("Punch" or "the Group") today announces that Stephen Billingham will join the Board of Punch as Non-Executive Chairman in September, following the proposed demerger of Spirit, replacing Peter Cawdron who will retire from the Board after serving for over 8 years.
Stephen, aged 53, was Finance Director of British Energy Group plc, from 2004 to 2009, playing an instrumental role in delivering the turnaround and strong performance of the business, its relisting in 2005, its move up to the FTSE100 and the sale to EDF in 2009 for Β£12.5bn. Prior to this, Stephen was Group Finance Director of WS Atkins plc during its successful financial recovery, as well as Group Treasurer of BICC plc (now Balfour Beatty plc) and Severn Trent plc. Stephen is currently a Government appointed Non-Executive Director and Chairman of the Audit Committee of URENCO. He is also Chairman of Fountains, the support services company.
The Board also announces that Chris Bell, aged 53, will become a Non-Executive Director of Spirit, following the proposed demerger. Chris has been Chairman of GAME Group plc since June 2011, having joined the Board in 2003 as a Non-Executive Director. He was CEO of Ladbrokes plc between 2006 and 2010. Prior to that, he spent six years as Managing Director at Hilton Group and eight years as Managing Director at Ladbrokes Group. Chris is also currently Senior Independent Director of Quintain Estates and Development.
Commenting on the appointments, Ian Dyson, Chief Executive of Punch, said:
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"We are delighted that Stephen will become the Chairman of Punch. This marks further progress as we head toward the demerger later this summer. Stephen brings with him extensive financial turnaround, risk and operational experience, which will be valuable in his role overseeing the development of Punch. We are also pleased to announce that Chris will join the Board of Spirit. He has extensive retail and leisure sector experience in the public arena and will bring this to bear as Spirit embarks on its future as a standalone company."
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Stephen Billingham said:
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"I am looking forward to taking on the Chairmanship of Punch after the demerger and working with Roger Whiteside and his management team to unlock value. This is a business with a strong foundation, improving momentum and good long-term prospects."
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- ENDS -
Enquiries:
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Punch Taverns plc | Tel: 01283 523548 | ||
Sarah Perrins, Head of PR & Communications | |||
Brunswick Group LLP | Tel: 0207 404 5959 Β | ||
Mike Smith, Catherine Hicks, Natalia Marisova | |||
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