Revolution Bars CEO Mark McQuater resigns
Chief executive of Revolution Bars Group Mark McQuater has resigned and will be leaving the business with immediate effect.
The announcement follows Stonegate dropping its £101.5m takeover offer yesterday after it emerged that nearly 54% of Revolution's shareholders voted against the deal.
The firm also received a counter-proposal merger offer from nightclub and bar firm Deltic in August, which was rejected by Revolution and withdrawn by Deltic last week.
Keith Edelman, Revolution's chairman, will assume the role of executive chairman until a replacement has been found.
Edelman said: "On behalf of the board, I would like to thank Mark for his contribution to the success of Revolution. The business and brands have grown and developed over his four-and-a-half-year tenure as CEO and the business is well positioned for its next period of growth. We wish him well for the future."
Stonegate walks away after Revolution Bars Group shareholders reject £101.5m offer >>
Deltic withdraws offer for Revolution Bars Group >>
Revolution tells Deltic ‘make us a firm cash offer' >>
Revolution Bars like-for-like sales up 1.5% driven by new openings >>
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