Admiral appoints non-exec director as business nears turnaround

By Lorraine Heller

- Last updated on GMT

Related tags: Admiral taverns, Board of directors

Simon Johnson joins Admiral Taverns as the group emerges from a business turnaround
Simon Johnson joins Admiral Taverns as the group emerges from a business turnaround
Admiral Taverns has appointed the leisure sector specialist Simon Johnson as non-executive director, as the pub company nears the completion of a turnaround programme for its business.

Johnson will be working with Admiral Taverns’ chairman and the senior executive team on the future strategic development of the group.

With a background in corporate finance as a leisure sector analyst, Johnson will join the company as it strengthens its business following a financial turnaround.

The group – which operates an estate of 1,600 tenanted and leased pubs – wiped £47.2m off its debt in the seven months to 31 May 2010 as it trimmed its estate by 11 per cent and reported improved trading in its turnaround division.

Admiral is now nearing completion of the turnaround programme that was embarked upon when the business was refinanced in 2009, and says it is now in a “strengthened financial position”.

On the appointment of Simon Johnson, who is currently a director at global property firm CBRE, Jonathan Paveley, executive chairman of Admiral Taverns, said: “We are extremely pleased to have secured the services of someone with Simon’s experience and standing. He emerged from a shortlist of excellent candidates and is very highly regarded in both the leisure and property sectors.

“His contribution, and no doubt wise counsel, will be a huge asset to both myself and the board as we further develop and strengthen the Admiral Taverns business.”

Related topics: Business, Pubs & Bars

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