M&S director Ian Dyson named as new chief executive of Punch Taverns
The finance director of Marks & Spencer has quit to become the new chief executive of pub operator Punch.
Ian Dyson has been drafted in as a replacement for Giles Thorley who announced his departure at the end of March after nine years.
One of the group's two managing directors, Roger Whiteside, who runs the leased pubs division, and Mike Tye, who runs the managed division, had originally been tipped to take the job.
Dyson, an accountant by training, is likely to earn less at Punch than he did at M&S, according to reports. His decision to leave the retail chain comes just a day after the installation of Marc Bolland as chief executive.
Dyson joined M&S as finance director in 2005 and was later promoted to take control of IT and property as well as the finance operation. Previously he was finance director of the Rank Group from 1999 to 2005.
He also held a number of senior roles within Hilton Group where he was group financial controller & finance director for the international hotels fivision from 1996 to 1999; and Granada/Forte where he was finance director for Meridien Hotels & Resorts from 1994 to 1996.
Punch chairman Peter Cawdron said: "Ian is an exceptional hire who will add further strength to the high calibre team at Punch. Ian brings a great combination of strategic, operational and financial experience having worked in some of the UK's leading businesses. These skills will be invaluable to Punch's future development. I am delighted to welcome Ian to Punch."
Punch to sell 36 managed pubs for £36m >>
Punch could dispose of 1,200 tenanted pubs >>
Giles Thorley to step down as Punch boss >>
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