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Fri 11th Aug 2017 - Restaurant Group hires Greene King FD, Domino’s buys 75% stake in franchisee
Restaurant Group hires Greene King finance director: The Restaurant Group has hired Kirk Davis as chief financial officer – he will start with the business in February 2018. Davis has extensive finance experience within listed leisure and retail businesses and joins from Greene King where he has spent the past three years as chief financial officer. He was previously finance director at JD Wetherspoon and has also held senior finance roles at Tesco and Marks & Spencer. He is a member of the Chartered Institute of Management Accountants. Chief executive Andy McCue said: “Kirk’s proven skill-set and highly relevant experience position him ideally for the chief financial officer role at The Restaurant Group. I very much look forward to welcoming Kirk to the business and to working with him.” Kirk Davis said: “I am really excited to be joining The Restaurant Group. I look forward to working with the team to collectively ensure the company delivers its full potential.” Meanwhile, Richard Smothers will be joining Greene King in December 2017, and joining the board as chief financial officer in February 2018. He joins from Mothercare where he has been chief financial officer since March 2015. Previously, Smothers was director of group finance at Rexam from 2011. Prior to this, Richard spent 14 years in a number of senior finance roles at Tesco, including finance director for UK operations and finance director, Asia. Rooney Anand, chief executive of Greene King, said: “I am delighted that Richard Smothers is joining us as chief financial officer. Richard has 20 years of experience at blue chip retail and consumer-focused companies in senior financial roles. He is a great addition to the executive team as we seek to become Britain’s best pub company and to continue to deliver long-term growth and value to shareholders.” He replaces Kirk Davis, who will be leaving Greene King at the end of January 2018 to become chief financial officer of the Restaurant Group. Philip Yea, chairman of Greene King, said: “On behalf of the board I would like to thank Kirk for his contribution over the past three years during the acquisition and integration of Spirit. We wish Kirk well for the future.”

Domino’s pays £24m to buy 75% stake in largest London franchisee: Domino’s Pizza Group (DPG) has announced the creation of a partnership with its largest franchisee in London. As part of the transaction, DPG has agreed to pay £24 million to have a 75% stake in a newly formed company whose assets will consist of all the franchisee’s operations – 25 existing Domino’s stores in London. The company stated: “The creation of the partnership will enable DPG to take advantage of the significant growth opportunity in the London area. The transaction is subject to final contract, with completion expected in September 2017.”

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