5. Roger Whiteside, managing director and Giles Thorley, chief executive, Punch
Roger Whiteside, managing director, Punch leased division (13)
Giles Thorley, chief executive, Punch Taverns (2)
Why they are on the list: Thorley heads up Britain's biggest pubco, but will step down shortly to pursue other business openings. Punch, though, is very much made in his image — it's the construct of years of buying he's master-minded. Former Marks & Spencer financial director Ian Dyson has been unveiled as his successor. Whiteside currently oversees Punch's leased division, which accounts for the bulk of the company's 7,000 or so pubs.
What the past year has held: Thorley has had a torrid time of late thanks to the recession, credit crunch and smoking ban, which has dealt Punch and its leased pubs, a terrible hand. Whiteside, who has retail experience with Marks & Spencer and Threshers, has been busy introducing a range of initiatives to help licensees grow their business. He's also been at the forefront of the "trust and transparency" agenda in licensee relations. Whiteside is overseeing a new lease that will trial free-of-tie prices and a free-of-tie option on cask ale. Whiteside is very much a trade modernist and says those who criticise pubco reform are living in "cloud cuckoo land".
Challenges ahead: Thorley has set up his own company in the private equity sector, but will stay at Punch until early summer to smooth transfer of executive reins to Dyson. Analysts say the company still has a mountain to climb despite raising £350m of new equity, selling 1,300 pubs for £600m and reducing net debt by £1.2bn (27%). More disposals of an estimated 1,200 pubs could follow. For Whiteside, profit declines of 11% will need to be arrested.
