M&B appoints Marston's chief operating officer as new chief executive
The operator of multiple pub and restaurant brands, including Harvester, Toby Carvery and O'Neill's, revealed Alistair Darby will take up the chief executive position on 8 October.
Transformation
"Mitchells & Butlers is a market-leading business with tremendous potential that is well advanced on a transformation programme," Darby said, following the release on news of his appointment.
Darby, who has been at Marston's since 2003, will be tasked with continuing a transformation of the company which recently resulted in food sales overtaking those coming from drinks.
"I am excited by the opportunity to lead the company and, together with the management team, to build on M&B's strong estate, brands and operations."
Departures
Darby, who has also previously worked for Mars Confectionery, Wolverhampton and Dudley Breweries and United Distilleries, is also expected to continue an expansion programme and changes in operating manager training.
The appointment ends a turbulent 18-month period for the Birmingham-based company which began with the departure of both its chairman and chief executive in quick succession.
Mitchell and Butlers' Turbulent 18 Months - Timeline:
- February 2011 - Chairman John Lovering steps down after only a year in the role following his appointment during a bitter shareholder battle in early 2010. Simon Burke takes over as non-executive chairman.
- March 2011 - Adam Fowle departs as chief executive after just two years in post. Non-executive director Jeremy Blood acts as interim chief executive.
- May 2011 - Former Regent Inns chairman Bob Ivell appointed as non-executive director.
- May 2011 - Food sales at M&B increase by more than 7 per cent and overtake drink sales for the first time in the company's history.
- July 2011 - M&B loses third chairman in 18 months as Burke steps down; Ivell takes role of non-executive chairman.
- September 2011 - The company rejects a takeover offer from Piedmont Inc, the investment company led by shareholder Joe Lewis.
- October 2011 - Blood steps down as interim chief executive. Ivell named as executive chairman taking on chief executive responsibilities.
- November 2011 - Three key staff members depart as M&B restructures operational structure to focus on nine key pub and restaurant brand groups.
- May 2012 - M&B reveals its latest half-year financial results - sales rise driven by food but poor weather hits profits.
Ivell, who will revert to his non-executive chairman role following a handover period, said: "The Board and I are all delighted to announce the appointment of Alistair as Chief Executive following an extensive and rigorous search process."
"I am confident that we have secured the right person for the role and that drawing on his wealth of operational and brand experience, Alistair will contribute greatly to M&B's continued strong performance."
