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Greene King chair to be replaced by former Diageo man

By Mark Wingett, MC Allegra FS

- Last updated on GMT

Greene King chairman Tim Bridge, who is to step down
Greene King chairman Tim Bridge, who is to step down

Related tags: Non-executive director, Greene king, Companies listed on the london stock exchange, Board of directors, Corporate governance, Chairman

Greene King has announced chairman Tim Bridge is to step down after 45 years with the company, to be replaced by former Diageo finance director Philip Yea.

Bridge will step down on 1 may after 11 years as chair. Yea is joining the board on 2 February as a non-executive director, and then will take over as chairman on 2 May.

As finance director of Guinness PLC, Yea was closely involved in the creation of Diageo through Guinness’s merger with GrandMet in 1997. He was also chief executive of 3i Group plc from 2004 to 2009. He is currently senior independent director at both Vodafone Group Plc and Computacenter PLC and also a non-executive director of Aberdeen Asian Smaller Companies Investment Trust plc. He is also an independent director and trustee of the Francis Crick Institute.

Yea will initially be appointed as a member of the nomination and remuneration committees. He will take over as chairman of the nomination committee, and resign from the remuneration committee, when he becomes chairman in May.

Bridge said: “I joined Greene King in 1970 and have been the chairman since 2005, following more than ten years as the chief executive. I feel very fortunate to have spent my whole career working for a great company which has grown from being a regional brewer to one of the UK’s leading pub hospitality companies. We have achieved this with an outstanding team of people and I feel confident that, through them, and with Philip Yea replacing me as chairman, the company will continue to prosper in the future.”

Rob Rowley, senior independent non-executive director, said: “We would like to thank Tim Bridge for his excellent and extensive contribution to the group, spanning over 45 years. He has done an outstanding job as chairman and it has been a real pleasure working with him. His experience and advice, coupled with his deep commitment to the success of the business have been invaluable and the Board and I wish him a happy and healthy retirement.

“We are also very pleased that Philip Yea has agreed to join the board and to take over from Tim as chairman from May. He has a wealth of industry knowledge and I am sure that his wide expertise, business experience and personal qualities will contribute greatly to the future and continued success of the group.”

Yea said: “I am delighted to be joining Greene King and it will be an honour to succeed Tim Bridge when he retires as chairman. Greene King is admired for its brands and people, and I am looking forward to working closely with Rooney and the rest of the board in the next stage of its progress as a leading pub hospitality company.”

Related topics: Greene King

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