Thwaites appoints Bailey as new chief executive

Daniel Thwaites, the Lancashire-based brewer and pub operator, has appointed Richard Bailey as its new chief executive.

Bailey's appointment comes as Peter Morris, managing director, informed the company that he intends to leave in order to pursue new opportunities and will resign as a director.

Bailey, who becomes chief executive with immediate effect, joined Thwaites in 2002 as a non-executive director, taking up a full time executive role in 2009 with responsibility for developing the future direction and growth of the business.

Ann Yerburgh, chairman, said: "Since joining us in May 2008, Peter has made a significant contribution to the business, overseeing a restructuring of our brewing and pub operations, which has created a solid platform for future growth. We wish him well for the future in all that he does.

"I am delighted to be able to announce Richard's appointment. The business has been through a period of change and I am confident that under his leadership our plans for the future will allow us to succeed in a challenging environment."

Bailey said: "Since I joined the business in 2002, the environment has changed hugely. However, this is an exciting time for Daniel Thwaites.

"The business has undergone a significant restructuring in the past few years in response to the economic and market downturn and is now entering a new phase. The company continues to face challenges, however we have a clear strategy to respond to those and I am sure that will underpin our future."

The Lancashire-based firm currently operates an estate of c.370 pubs plus six four-star hotels under its Shire brand.

It recently announced plans to open an estate of up to 20 new coaching inns and character hotels under a new brand called Inns of Character within the next five years.