PUB Punch Tvns

 

TIDMPUB 
 
RNS Number : 3824J 
Punch Taverns PLC 
30 March 2010 
 
PUNCH TAVERNS PLC 
("Punch" or "the Group") 
 
30 March 2010 
 
                                Punch Taverns plc 
 
                                CEO to step down 
 
Punch Taverns announces that Giles Thorley has informed the Board of his 
intention to step down as Chief Executive and leave the Board.  The Company is 
well advanced with the process of appointing a successor as Chief Executive and 
there will be an orderly transition of management. 
 
 
Giles Thorley said: 
 
"After nine exciting years at Punch I have decided to leave the business. Having 
grown Punch into Britain's largest pub company, the past two years we have faced 
the worst recession for a generation and significant structural and political 
challenges to the industry. We have made good progress in reshaping our business 
and balance sheet, stabilised our operating performance and have taken the right 
actions to position Punch to achieve long term sustainable success. Punch has a 
great team in place and I am confident that they can continue to lead the 
industry forward and secure the future of the great tradition that is the 
British pub." 
 
 
Peter Cawdron, Chairman, said: 
 
"I would like to thank Giles for his incredible commitment and drive that he has 
brought to Punch during his time with the business. His dedication has not 
waivered during good and bad times and he will leave a business poised to 
benefit from an improvement in economic conditions. The Board wishes him every 
success in the next part of his career." 
 
ENQUIRIES: 
 
Punch Taverns 
            Tel: 01283 501 703/01283 501 635 
 
Giles Thorley 
Phil Dutton 
 
Smithfield Consultants 
     Tel: 020 7360 4900 
 
John Kiely 
Alex Simmons 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 STRSEMFAUFSSEED 
 

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