Bob Ivell, executive chairman of Regent Inns, and Alan Jackson, chairman of The Restaurant Group (TRG), have announced they are to step down from their roles as directors at each other’s respective companies. Both have decided to resign to avoid any potential conflict of interest between the business of Old Orleans, the bar and restaurant chain recently acquired by Regent for £26m, and TRG’S restaurant operations. Ivell, who has served as a non-executive director at TRG for the past two and a half years, steps down with immediate effect. Jackson, who has held a non-executive director position at Regent since January 2005, will leave the company on 30 September. Both companies said the resignations were accepted “with regret”, but thanked them for their valuable contribution to the respective businesses. Regent announced it had acquired Old Orleans, the bar and restaurant chain, for £26m from Punch Taverns at the start of last month. The deal is in line with Regent's aim to add a third arm to its business and will be funded in part by increasing the group's existing debt facility from £100m to £116m. Ivell, executive chairman at Regent and former chairman at S&N Retail, said: “We believe that Old Orleans will benefit from being a core part of the Company and our experienced retailing focus. “We have previous experience of successfully managing the Old Orleans outlets and are confident that we can enhance the operational performance through carefully targeted capital investment, improved food and entertainment offerings and marketing.” Old Orleans comprises a portfolio of 31 themed outlets across Great Britain, of which 29 are branded as Old Orleans and two are branded as Quincey's. Three outlets are freehold, one is long leasehold and 27 are short leasehold.

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