The chairman of Mitchells & Butlers, Roger Carr, plans to step back from his role as an adviser to private equity firm Kohlberg Kravis Roberts while it considers a takeover bid for the pubs group.
M&B is conducting a review of its business which could lead to a sale or break-up following a £275m loss from hedges related to an aborted property venture with Robert Tchenguiz.
Carr, who advises KKR on its investments, intends to exclude himself from the discussions to avoid any potential conflict of interest.
Last week Carr was named chairman-designate of Cadbury, the confectionery arm of Cadbury-Schweppes. His appointment raised some eyebrows in the City, coming so soon after M&B admitted the £275m loss.
The Sunday Telegraph 24/02/2008 (Business) page 1
