Yates rebuilds team with new finance director

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Related tags: Operator yates group, Management occupations, Board of directors

Pub operator Yates Group has begun rebuilding its management team by appointing a new finance director.Stevan Fowler will join next month from...

Pub operator Yates Group has begun rebuilding its management team by appointing a new finance director.

Stevan Fowler will join next month from textile dyes maker Yorkshire Group, where he is group finance director. He was previously at paint manufacturer Kalon Group for 12 years in various senior financial roles.

He replaces Jerry Green who left in April after four years at the company.

Last month, executive chairman Peter Dickson - a descendant of founder Peter Yates - quit the business. He was replaced by vice-chairman Mike Hennessy.

Mr Dickson's departure followed the termination of talks with an unnamed company that was interested in making a takeover bid.

The group has suffered from a decline in margins, partly because of an unsuccessful premium pricing policy. It has also faced short-term problems after investing in updating its core Yates's Wine Lodge brand.

However, it has been improving the pub chain's performance and scaled down expansion plans for its Yates's and Ha! Ha! Bar & Canteen outlets.

The group continues to look for a chief executive after deciding to make the executive chairman's role a non-executive one.

Related stories:

Chairman of Yates Group resigns (July 5, 2001)

Yates presses on after takeover talks end (June 24, 2001)

Related topics: MA500 Business Club

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