David Myers, industry veteran and current chairman of Premium Bars & Restaurants and La Tasca, has been appointed as the new chairman of Walkabout operator Intertain.
He is to replace Stephen Lambert, who has chaired Intertain since January 2010.
Myers’ previous roles include chief executive of Avebury Taverns and non-executive chairman at Town & City Pub Company until its merger with Stonegate. He has held advisory roles with private equity firms Duke Street Capital and Europa Capital, and earlier in his career held positions at Sainsbury’s, Whitbread and Grand Metropolitan.
Myers will retain his roles at Premium Bars & Restaurants and La Tasca when he takes the Intertain position.
John Leslie, chief executive of Intertain, said: “We’re delighted to welcome David Myers to the board. He brings with him extremely valuable industry experience and a wealth of knowledge. As we move into a programme of re-investment in our sector-leading brands, this experience and knowledge will be of great help to us.
“I’d like to thank Stephen for his valuable contribution to the Intertain management team. He has provided tremendous support to the business in its formative period and, as a result, we are now very well positioned to develop further opportunities with the brands. On behalf of the rest of the board, I wish him all the best for the future.”
Myers said: “I am delighted to be joining Intertain at such an exciting time. I look forward to working with my new colleagues on the board to build on the current strength of the brands and continue to deliver on Intertain’s growth strategy.”
This summer, Intertain reached an agreements with its banks for a £29.9m debt for equity swap, with its banking group renewing a £5m working capital facility that the company said “provides extra funding flexibility”.
Intertain reported a loss of £28.72m after incurring exceptional items of £27m in its first 67 weeks of trading after it emerged from the pre-pack administration of Regent Inns in October 2009.