PUB GROUP MARSTON'S APPOINTS KENNETH LEVER AS NEW CHAIR

Pub group Marston's has appointed Kenneth Lever as an independent non-executive chair, with effect from 8 July. 

Lever, currently non-executive chair at data company Cirata and senior independent director at investment trust Rockwood Strategic, succeeds William Rucker.

Marston's said Lever has held a number of senior executive and non-executive positions at UK-listed firms across multiple sectors including retail, manufacturing, construction, software and business services.

Lever said: 'I am delighted to be joining Marston's at this juncture and enthused by the opportunity ahead. 

'Marston's is a quality business with strong market presence, and I am looking forward to working with the board, Justin and the wider team to deliver sustainable growth that will drive value for our shareholders.'

Marston's shares were flat at 30.93p on Thursday, having slipped by around 1.5 per cent in the last year. 

Octavia Morley, a senior independent director at Marston's, said: 'Following a thorough independent selection process, I am really pleased to announce that Ken will be joining Marston's as non-executive chair. 

'Ken brings a strong and valuable external perspective to the board and his broad range of business skills and experience will support Justin and the team as the business continues the next phase of its development.'

In May, Marston's said it had delivered 'strong' like-for-like sales in the first half, driving 'good growth' in operating profit. 

Marston's said revenue increased by 5.2 per cent to £428.1million in the six months ending 30 March, with good momentum across food and drink sales and like-for-like sales up 7.3 per cent, outperforming the broader market.

The group's pub underlying profit rose by 22 per cent to £52.7million in the first half, while underlying pub operating profits jumped to 12.3 per cent, up from 10.6 per cent the previous year. 

In May, chief executive Justin Platt, said: 'The outlook for H2 is encouraging. 

'With a number of "must not miss" major sporting events, our massively upgraded pub gardens and much-loved food menus, we expect our pubs to be very popular this summer.'

2024-07-04T10:05:23Z dg43tfdfdgfd