Punch pubs group names M&S finance director as new CEO

Britian’s biggest pubs chain Punch has announced Ian Dyson, the finance director of Marks & Spencer, as its new chief executive. Dyson quit his job 24 hours after the arrival of Marc Bolland, the new M&S chief executive.

Dyson was touted as the favourite internal candidate for the top job at M&S, before the arrival of Bolland from Morrisons.

Dyson joined M&S as finance director in June 2005, a year after Stuart Rose took the helm as chief executive and was latterly promoted to group finance and operations director, with responsibility for IT and property, as well as the finance operation. Last year he was put in charge of a turnaround project, called 20-20, designed to “deliver a step change” in M&S’s fortunes, with a wide remit to look at overseas expansion, online opportunities and store numbers.

At Punch, Dyson takes over from Giles Thorley, whose announced his departure from Punch after nine years in March. The group’s two managing directors – Roger Whiteside, who runs the leased pubs division, and Mike Tye, who runs the managed division were viewed as the internal candidates to replace Thorley.

In a statement to the stock exchange, Rose said: “We understand Ian’s decision and recognise the opportunity ahead of him … I would like to thank Ian for the significant contribution he has made to M&S over the last five years and wish him well with his future career.”

This story first appeared on pitch

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