Marston’s pubs boss Ralph Findlay quits after 20 years at the top
The longstanding chief executive of Marston’s, the pub group, has quit just a month after the company rejected a takeover offer from a US private equity firm.
Ralph Findlay, who is 60 this year, will leave in September after a replacement is left.
He has been at the pub group for 26 years, 20 of them as chief executive.
“It is certainly very strange to be leaving, and will do for a while,” he told the Evening Standard. “Marston’s has been my life, but 20 years as chief executive is long enough.”
Only JD Wetherspoon boss and founder Tim Martin has run a major pubco for longer.
Company sources said there was no connection with Platinum Equity Partners’ decision to walk away from takeover talks after Marston’s rejected three all share offers.
Chairman William Rucker praised Findlay’s work, particularly citing a joint venture partnership with its beers and Carlsberg and the more recent move to run the troubled Welsh estate of SA Brain.
His departure follows that of another long-lived pubs boss, Rooney Anand of Greene King, who quit to launch a £200 million fund to buy undervalued UK pubs. Findlay has numerous directorships.
Asked if he would follow suit, Findlay said: “I won’t even start thinking about what to do next until I’ve put some miles in on my motorbike first.”
It is believed Findlay informed the board last year that he was considering retiring.
Findlay will remain in charge to oversee the company’s return to trading as lockdown restrictions roll out between April and June.
“The vaccination programme means people will be significantly reassured. I think we will be opening without restrictions,” Findlay said.
He predicted a surging return for pubs both from pent up demand and the delayed Euro 2020 football championship. “None of us have watched football in a pub for over a year,” he said.
