Premium Bars & Restaurants has created a new divisional structure to save costs.
Dan Simpson, who managed its Bel & the Dragon division, left the business at the end of June.
Kevin Allcock, who runs the bar and nightclub side of the business, will now oversee Bel & the Dragon.
Chairman Mark Jones said: "For the new financial year, I am announcing a new divisional structure to enable us to reduce costs and ensure we are better placed for the future.
"This decision is a result of the slowdown in acquisition activity for the Bel & the Dragon brand.
"The market for freehold pubs is in a state of flux and we are not anticipating this changing in 2008/09."