Andrew Knight leaves Spirit Group

Punch Taverns has announced the departure of Spirit Group managing director Andrew Knight with immediate effect.

Knight has been in the top job at Spirit since January 2006 when Punch Taverns acquired the managed pub group from its then-private equity owners for £2.6bn.

He is to be replaced by Michael Tye, a veteran of the licensed trade with 20 years' worth of experience in companies including Whitbread and Forte.

According to Punch, Tye was instrumental in driving the performance of Whitbread's Costa Coffee business and the acquisition and subsequent integration of Premier Lodge to create Premier Travel Inn.

His skills would be "well-placed" to drive the future growth of the Spirit business, the pubco added.

While no reason was given for Knight's departure, Punch's chief executive Giles Thorley thanked the departing executive for "his commitment to the group in leading Spirit through a significant period of integration over the last couple of years as we continue to build the UK's premier pub company".

Senior Punch management is meeting today with City analysts to give an update on its financing and the viability of its becoming a real estate investment trust (REIT).