Greene King, the brewer and pub company, would look at transferring its tenanted pubs into its managed division or sell them outright if the beer-tie was abolished. Speaking at the recent Numis Securities conference the company's head, Rooney Anand, said that at present the group had structural advantages in its tenanted division when compared to rivals, as 80% of pubs within are on short, rolling tenancies. This, said Anand, allows the group to control the three key things involved in running a successful pub, namely the person operating it, the pub itself (as opposed to pubs on long leases) and the offer. If the government were to pass legislation against the beer tie, this operational flexibility could likely be lost. Greene King remained “an operating company, not a property company” Anand warned, and would take according action. Speaking at the same event last month, the chief executive said there had been a consumer flight to value in the wake of the credit crunch and that the kitchen, rather than the cellar, was now the engine room of the pub.