David Franks, the founder of Regent Inns, is stepping down as the managed pub group's chief executive. He will take on a non-executive role from September.
Stephen Haupt, the current managing director, will replace Franks as chief executive. Haupt joined Regent from Scottish & Newcastle only in March this year as part of an overhaul of senior management, which also saw the arrival of Simon Rowe as finance director.
Regent, famous for its Walkabout brand, is now expected to join in the increasing moves to consolidation in the pub market, which this week saw rival SFI bid £31.6m for Slug & Lettuce, or become a takeover target itself
Franks retains a substantial 13.29% stake in Regent valued currently at £16.6m.
Stephen Haupt, the current managing director, will replace Franks as chief executive. Haupt joined Regent from Scottish & Newcastle only in March this year as part of an overhaul of senior management, which also saw the arrival of Simon Rowe as finance director.
Regent, famous for its Walkabout brand, is now expected to join in the increasing moves to consolidation in the pub market, which this week saw rival SFI bid £31.6m for Slug & Lettuce, or become a takeover target itself
Franks retains a substantial 13.29% stake in Regent valued currently at £16.6m.
