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Tue 6th Nov 2018 - Greene King’s Rooney Anand to step down as chief executive
Greene King’s Rooney Anand to step down as chief executive: The board of Greene King has been advised by Rooney Anand of his intention to step down from the role of chief executive at the end of the current financial year ending 30 April 2019. The process to appoint his successor is well advanced and a further announcement concerning succession is expected to be made early in the new calendar year. Chairman Philip Yea said: “Rooney has been chief executive of Greene King since 2005 and has proven himself to be one of the most successful and longest serving business leaders our industry has seen, transforming our company over this period. He will leave us better positioned for the future. Although he remains in his role for another six months, I should like to take this opportunity to thank him publicly on behalf of the board, colleagues and shareholders for all he has done for them, the company and the industry.” Rooney Anand added: “It has been a great privilege to lead Greene King for nearly 14 years and to serve as a director for 18 years. As we announced recently, the business is performing in line with our expectations and ahead of the market. With a strong team and business culture firmly in place, the time is now right for me to hand over the baton. I look forward to supporting Phil, the board and the management team with the succession plan, and delivering our plans and results for the second half of the financial year.” During Anand’s 14 years as chief executive he has led the transformation of the business from a regional Suffolk brewer to the UK’s leading pub retailer and brewer of real ale and delivered significant growth. The ten-year total shareholder return, from the credit crunch in 2008, is nearly 200%. It has grown from 1,988 pubs (800 managed), turnover of £732m and Ebitda of £190m in 2005 to over 2,800 pubs (1,700 managed), turnover of £2.2bn last year and Ebitda of £487m. The business has also grown from employing 16,000 to 39,000 people. Acquisitions include: Belhaven in Scotland in 2005, Hardy’s and Hanson’s in 2006, Cloverleaf, Real Pubs and Capital Pub Company in 2011 and the £774m acquisition of Spirit Pub Company in 2015.

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