Billy Buchanan has been unveiled as the new chief executive of London Town, the AIM-listed pub group. The leisure executive – who qualified as an accountant with KPMG – will also take the role of chief financial officer at the group, which operates 75 managed pubs and an estate of 225 tenanted pubs. He takes the chief executive reins from Richard Gundry, who will assume the position of development director. Ian Robinson, previously executive chairman, will become non-executive chairman. Buchanan said: “London Town is an excellent business with enormous potential. I am gratified to have been asked to accept the challenge of taking the company to the next stage of its development. “The investment programme will begin immediately. London Town has very many strongly-performing pubs run by good, committed people and we intend to spread the best practice from these outlets across the group. Buchanan has held a number of positions in leisure and finance.