Marston’s PLC appoints Justin Platt as new CEO

Marston's PLC

17 November 2023

 

MARSTON'S PLC ("the Company")

Marston's PLC appoints Justin Platt as new Chief Executive Officer

17 November 2023

Marston's PLC today announces that, having navigated the Company through the pandemic and more recently the challenging macroeconomic conditions, Andrew Andrea has agreed with the Board that he will step down as Chief Executive Officer with immediate effect.  He will, however, be available to the business for a period to ensure a smooth handover of responsibilities.

The Board wishes to take this opportunity to express its gratitude to Andrew for his commitment to the Group over his tenure, which extends over 20 years.

The Board is pleased to announce that following an external process, Justin Platt has been appointed as Chief Executive Officer with effect from 10 January 2024.  William Rucker, Chair, will support the management transition in the short interim period with the Executive team reporting directly into him.

Justin has over 30 years' experience in hospitality and consumer-facing businesses, having spent the last 12 years at Merlin Entertainments; most recently as Chief Strategy Officer and prior to that in a variety of operational leadership roles.  Justin has a proven track record of delivering sustainable business growth through his clarity of strategic focus, a passion for enhancing customer experiences and a relentless focus on business results delivery. Justin's combination of operational and strategic experience in multi-site leisure businesses equips him perfectly to lead Marston's through the next phase of its development.

Current trading remains in line with management expectations. As previously highlighted, the Group will announce its preliminary results on Tuesday 5 December 2023.

William Rucker commented: "Andrew has worked for the Company for over 20 years and the Board thanks him for his valuable contribution, particularly in recent times, which has been one of the most challenging for our sector.  He leaves with our very best wishes.

"Looking forward, I am very pleased to be able to announce the appointment of Justin Platt whose broad Consumer sector expertise, strategic acumen and prowess in customer experience at Merlin will be of great benefit to Marston's at this stage in the Company's journey."

Andrew Andrea commented: "I am extremely proud to have navigated Marston's out of the pandemic as a focussed pub business and put in place a first-class management team who are achieving market outperformance.  This is the right time for me to step down and I am confident the business is in great shape with strong future potential.  I wish William, Justin and the whole team continued success in the future."

Justin Platt commented: "I am delighted to be joining Marston's. The Company has massive potential and a passionate and talented team. I am really looking forward to working with the Board and the management team to deliver the sustainable business growth that will drive value for our shareholders."

ENQUIRIES:

Marston's PLC                         via Instinctif	Instinctif Partners          Tel: [phone]
William Rucker, Chair	Justine Warren
	Matthew Smallwood Joe Quinlan

NOTES TO EDITORS

1.   Marston's is a leading pub operator with a 40% holding in Carlsberg Marston's Brewing Company.

2.   It operates an estate of 1,415 pubs situated nationally, comprising managed, franchised and leased pubs.

3.   Marston's employs around 11,000 people.

4.   There are no other details that are required to be disclosed under Rule 9.6.13 of the Listing Rules of the UK Listing Authority.

5.   The information contained in this announcement is deemed by the Company to constitute inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 which forms part of domestic law in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018

6.   Remuneration arrangements for Justin Platt and severance terms for Andrew Andrea are consistent with the terms of the Directors' Remuneration Policy approved by shareholders at the AGM in January 2023, full details of which will be set out in the forthcoming Annual Report and Accounts.

 

END