Pub group Marston’s has announced that Andrew Andrea will take over as Chief Executive when Ralph Findlay steps down from the role in October.
Findlay revealed in March that he would be leaving the business after over 20 years in charge.
Like other pub chains, Marston’s has been hit by the pandemic-related lockdowns and it recently saw off a takeover attempt by US private equity firm Platinum Equity Advisors.
Andrea joined Marston’s in 2002 is currently the group’s Chief Financial Officer and Corporate Development Officer. The company plans to appoint a new CFO in due course.
Andrea commented: “Despite the challenges of the last year, I am confident that we have a great team of energised and engaged people to deliver our vision, and I look forward to working with them and the Board to return the business to growth and optimise the future opportunities available to us.”
The group’s Chairman, William Rucker, added: “Andrew has clear drive, ambition and outstanding execution skills and these attributes, together with his deep knowledge of – and empathy for – the business, equip him well to lead Marston’s through the next stage of its development. The Board has every confidence in him and looks forward to continuing to work closely with him in future.”
NAM Implications:
- Key will be the new CEO’s financial background initially…
- …as a basis for a move into growth mode.
