Yahoo Finance Ralph Findlay to step down as Marston’s boss after 20 years
Ralph Findlay has said he will step down as the boss of Marston’s after 20 years leading the pub chain.
The Wolverhampton-based company, which runs around 1,500 pubs, has said he will leave his position as chief executive in September.
It told investors that a process is under way to appoint a successor and a further announcement will be made in due course.
William Rucker, chairman of Marston’s, said: “Ralph has been CEO of Marston’s since 2001 and is one of the longest serving business leaders in an industry which has seen significant change and challenges during that time.
“Throughout his tenure with the company, Ralph has shown his dedication, passion and ambition in leading its people in a way that embodies Marston’s unique culture and he will be greatly missed by his colleagues and fellow board members alike.
“He leaves Marston’s in excellent shape and well-positioned to rebuild trading and go from strength to strength when restrictions are lifted.”
Mr Findlay will continue to lead the company through the relaxation of pandemic restrictions which have forced Marston’s to shut the doors to all its pubs.
Sites are due to reopen outside-only from April 12 with customers set to be welcomed indoors from May 17 at the earliest.
The company is in a stronger position than some rivals after it was buoyed by a £780 million joint venture deal for its brewing business with Carlsberg UK.
The departure announcement comes weeks after US private equity firm Platinum walked out of takeover talks for the group after it rebuffed a £666 million move.
Mr Findlay said: “It has been a great privilege to lead Marston’s for 20 years.
“I joined the board in 1996 and have been fortunate to work with many inspirational, talented and dedicated colleagues in an industry which is very close to my heart.
“Looking ahead to reopening and welcoming customers back into our wonderful pubs, I am confident that we have great people, a fantastic team in place and that my successor will enjoy working with them and the board to take this great company forward to the next phase of its development.”
Shares in the company were 0.4% higher at 96.3p in early trading.
