BusinessCompany NewsCoffee Republic FD to step down

Coffee Republic FD to step down

Simon Drysdale quits coffee and deli chain to pursue 'a fresh challenge' after four years in the job

Simon Drysdale, FD of
Coffee Republic,
will resign from his position at the end of July. His decision to step down
comes in the wake of a boardroom shake-up at the end of last year, which
saw the franchise’s co-founder
Bobby
Hashemi
ousted from his role as executive chairman.

Peter Breach and Steven Bartlett were appointed as chairman and chief
executive respectively, as
the AIM-quoted
coffee bar chain rang the changes to spark a turnaround of its fortunes.

Coffee Republic said: ‘The board of Coffee Republic announces that Simon
Drysdale will step down from the board with effect from 31 July 2007. The
company’s financial controller, Roy Balint-Kurti, has been promoted to head of
finance and, whilst not a board appointment, will be acting director of
finance.’ 

Drysdale added: ‘My four years with Coffee Republic have been stimulating and
challenging in equal measure and, having been closely involved in the
development of the franchise strategy, it is satisfying to leave the company
with a clear view of the future. Whilst it is an exciting time of growth for
Coffee Republic, I have been offered the opportunity to become involved in a new
and innovative restaurant concept which provides me with a fresh challenge.’

Further reading:

Close Brothers FD to step down 

Fortnum & Mason goes shopping for
FD
 

FSA issues first ever ‘due care’ fine
against FD

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