BusinessCompany NewsDutton being lined up as CFO in M&B merger

Dutton being lined up as CFO in M&B merger

Punch Taverns CFO will take over at Mitchells & Butlers if takeover plan goes ahead

Punch Taverns’ chief financial officer Phil Dutton will have the same role in
the enlarged group if the proposed merger with Mitchells & Butlers goes
ahead.

Dutton took on the role of CFO in September last year, having previously been
a non-executive director at the company.

Following press speculation, the pub operator yesterday confirmed it had
approached M&B with an offer that would see shareholders of each company
owning 50% of the merged group. Shareholders at M&B would also receive £175m
in cash.

It also announced details of the proposed management and board structure of
the combined group.

If the deal goes ahead, Punch’s chief executive Giles Thorley will become CEO
of the combined group, and M&B’s chief executive, who offered to resign over
the failed property deal with Robert Tchenguiz, will take on the role of
non-executive chairman.

“Punch believes the terms and structure of the combination are compelling to

both Punch and Mitchells & Butlers shareholders and that there is
substantial strategic rationale in combining the two businesses,” the group said
in a statement.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

4w Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

5m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

5m Alia Shoaib, Reporter
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

8m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

8m Emma Smith, Managing Editor
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

8m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

8m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

8m Emma Smith, Managing Editor