- Push-out Score suggests push-out forces
- After 14 years in the position
- Praise and thanks for Anand
- Search for a successor
- Anand said 93 words
(exechange) — Bury St Edmunds, United Kingdom, November 6, 2018 — Rooney Anand, chief executive of Greene King, leaves. As announced by Greene King Plc in a regulatory filing published on Tuesday, November 6, 2018, Rooney Anand leaves his post as Chief Executive Officer at the UK’s largest pub retailer and brewer after 14 years in the role, effective April 30, 2019.
It is the end of an era.
Greene King will undertake a search for a successor.
“The time is now right”
Rooney Anand’s departure from the CEO post is explained as follows. Rooney Anand said: “With a strong team and business culture firmly in place, the time is now right for me to hand over the baton.”
Precise information about Rooney Anand’s future plans was not immediately available.
Greene King said: “The board of Greene King plc has been advised by Rooney Anand of his intention to step down from the role of CEO at the end of the current financial year ending 30th April 2019.”
Share price decline
The change follows a decline in the share price of Greene King PLC since November 2015.
The share price has fallen by 49 percent since November 2015.
Chaired by Philip Yea
Greene King PLC is chaired by Philip Yea.
Philip Yea was appointed to the board in February 2016 and became chairman in May 2016.
In the position of CEO since 2005
Rooney Anand has been the Chief Executive Officer at Greene King Plc since May 2, 2005.
Anand joined the group as managing director of the brewing division and was promoted to chief executive in 2005.
He was previously president and managing director of the UK bakery division at Sara Lee, the international consumer goods business, and, prior to that was at United Biscuits.
As a general rule, when a top leader announces to step aside with no successor available, it’s a signal that the change was unexpected and too early.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Rooney Anand’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.
Read the full story in the exechange report 46.2018 ($).