Bruce steps down at Capital Pub Co
Capital Pub Company co-founder David Bruce has stepped down as chief executive.
Bruce (pictured right with Clive Watson) will remain as a non-executive director but has stepped down to allow him to spend more time on his Charitable Trust and other entrepreneurial ventures.
Bruce's partner and managing director Clive Watson will now take over as chief executive.
"It is amazing to think that we started with nothing seven-and-a-half years ago and now we have a bloody good company," said Bruce.
"I'll be the grand old age of 60 soon and Clive is considerably younger and has that fire in the belly.
"I can think of no better successor."
Bruce said he wants to focus on several of his non-executive directorships as well as his new Enterprise Investment Scheme, which involves farm shops.
It has raised £5m so far and has one shop with two more in the pipeline.
"I want to play around a bit and involve myself in a few extra-curricular activities.
"The farm shop scheme is a mile away from my house so there is no commute to London.
"New Zealand is also a vibrant economy which interests me greatly."
Immense contribution
Capital chairman J Bruxner said: "David has made an immense contribution in helping to grow the Company and played a key role in attracting investment from Shareholders through the Company's Enterprise Investment Scheme.
"He has been instrumental in helping to achieve the Company's strategy of developing an independent London portfolio of unbranded, predominantly freehold, pubs.
"I am delighted to say that David has agreed to continue as a director of the company in a non-executive role and I would like to thank him for his huge commitment to the Company since its incorporation in December 2000."
David Kenyon, the company's finance director and company secretary, is also leaving to pursue a new career opportunity.
