Punch unveils non-executive chairman
Punch Taverns has revealed Stephen Billingham, former finance director of British Energy Group, is to become its non-executive chairman in September after Punch's demerger from its managed division Spirit.
He will replace Peter Cawdron, who will retire from the board after serving for more than eight years.
Meanwhile, Punch said Chris Bell, chairman of GAME Group and former managing director of Ladbrokes and Hilton Group, is to become a non-executive director of Spirit following the demerger.
Billingham was finance director of British Energy Group between 2004 and 2009, and is credited with helping to turn around the business, which was sold in 2009 for £12.5bn.
The 53-year-old said:
"This is a business with a strong foundation, improving momentum and good long-term prospects."
