By Scott Wright
EDINBURGH-born Ralph Findlay is stepping down as chief executive of pub giant Marston’s.
Mr Findlay, who has led the Midlands-based company for two decades, will vacate the role at the close of its current financial year, ending September 30.
The decision comes after Marston’s saw off a takeover approach from US-based Platinum Equity Advisors in February.
That came after Mr Findlay brokered a £780 million joint venture with Carlsberg that saw it merge its brewing operations with the Danish giant in the UK, creating the Carlsberg Marston’s Brewing Company (CMBC), last year. The deal left Marston’s, which has a 40 per cent stake in CMBC, free to focus on its 1,500-strong pub estate.
Mr Findlay negotiated an agreement in December to manage Cardiff-based SA Brain’s estate of 156 pubs in Wales.
Marston’s said the process to identify a successor for Mr Findlay was under way, noting that a “further announcement will be made in due course.”
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.”
Marston’s chairman William Rucker said Mr Findlay was “widely respected and admired” in the hospitality industry as he paid glowing tribute to the outgoing leader.
He said: “He has guided the company through this last extremely challenging year to ensure it is ready to re-open as a purely focused pub operator with a substantially strengthened balance sheet.”
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