Mark Davies resigns as NewRiver CFO but remains CEO of Hawthorn
Davies has been at NewRiver for more than a decade including when it acquired its first group of pubs in 2013 before buying Hawthorn five years later.
This follows the announcement that NewRiver had sold Hawthorn and its 674 sites to Admiral for £222.3m.
Rewarding and challenging
On his departure as NewRiver CFO, Davies said: “I have enjoyed the past 12 years at NewRiver where we took an IPO start-up company to a premium listing on the London Stock Exchange.
“It has been rewarding and challenging to create a retail REIT with £1bn of assets and Hawthorn as a market-leading pub company, with entrepreneurial spirit, a people-first culture and a focus on community.
“I am very proud of my team and thanks to everyone I have worked with. My time at NEwRiver has been unique and rewarding, building two great businesses and leading so many talented people who’s commitment, hard work, friendship and loyalty is something for which, I will always be grateful. I wish NewRiver every success for the future.”
Pivotal role
NewRiver CEO Allan Lockhart said Davies had made a huge contribution in helping the company grow, after being with the firm since it floated in 2009.
He added: "Davies has played a pivotal role in helping to shape our strategy and giving NewRiver the financial foundations to successfully pursue it. He was instrumental in enabling NewRiver to complete the transition to a fully unsecured balance sheet in 2018, meaning all of our assets are unencumbered.
"He has also been a driving force and visionary behind NewRiver's pub strategy which began with us acquiring our first portfolio of 202 pubs from Marston's in 2013, buying Hawthorn five years later and culminating in an agreed sale of our community pub business for £222.3m this month.
“On behalf of everyone at NewRiver, we wish Davies the very best for the future and sincerely thank him for everything he has done for the business."
