Pub giant Marston’s has said current finance chief Andrew Andrea will take the reins as the company’s boss later this year.
The appointment comes after current chief executive Ralph Findlay said in March that he is stepping down from the Wolverhampton-based business after 20 years in the role.
Mr Andrea, who has served on Marston’s board since 2009, will take over as CEO on October 3, the company announced in a stock market update on Wednesday.
Mr Findlay will lead the business until the end of the current financial year at the start of October “in order to ensure an appropriate handover”.
The announcement came as the group prepares to welcome customers inside its pubs again from Monday following a month of outdoor service as lockdown restrictions continue to ease across the UK.
Earlier this year, Marston’s, which runs around 1,400 pubs, was the target of takeover interest but saw US suitor Platinum walk away after the firm turned down its £666 million approach.
Marston’s said a new chief financial officer will be appointed in due course and will update the market again at a later date.
Mr Andrea said: “I am delighted to have been selected to lead Marston’s at such an exciting time as it embarks on the next phase in its history as a focused pub operator.
“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.”
Mr Findlay said: “Andrew was the strongest contender from a selection of extremely high-calibre candidates under consideration, and the unanimous choice of the board for the role of chief executive officer.
“He 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.”