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LONDON - Mitchells & Butlers plc (LON:MAB) announced Thursday that Chief Financial Officer Tim Jones will retire after 15 years with the pub and restaurant group, with Emma Harris selected as his successor.
Jones, who joined as CFO in October 2010, indicated to the board earlier this year that he was contemplating retirement. He has committed to remain in his current role until a complete handover can be achieved, which is expected in early summer 2026.
Harris, currently Finance Director - Food at Marks and Spencer Group plc, brings experience from senior roles in major UK retail businesses. The appointment follows what the company described as a "rigorous search and selection process" using an international executive search firm.
During his tenure, Jones oversaw the strengthening of the company's balance sheet and helped navigate challenges including the COVID-19 pandemic and subsequent cost inflation in the hospitality sector.
Bob Ivell, Chair of Mitchells & Butlers, thanked Jones for his "exceptional contribution" over his fifteen-year period with the company, particularly highlighting his leadership during "extremely challenging and volatile conditions" in recent years.
Chief Executive Phil Urban noted that Jones has been "a valued right-hand" during the past decade and leaves the business "in a very strong financial position."
The company stated that the effective dates of Harris's appointment and Jones's retirement will be confirmed in a future announcement. Details of Harris's remuneration package will be disclosed on the company's website and in its 2025 Annual Report and Accounts, according to the press release statement.
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