Greene King CEO Rooney Anand is to step down in April next year after serving 14 years at the helm of the pub and brewery giant.
The process to appoint his successor is well advanced and a further announcement concerning succession is expected to be made early in the new calendar year.
Chairman Philip Yea said, 'Rooney has been CEO of Greene King since 2005 and has proven himself to be one of the most successful and longest serving business leaders our industry has seen, transforming our company over this period. He will leave us better positioned for the future.
'Although he remains in his role for another six months, I should like to take this opportunity to thank him publicly on behalf of the board, colleagues and shareholders for all he has done for them, the company and the industry.'
Rooney Anand commented, 'It has been a great privilege to lead Greene King for nearly 14 years and to serve as a director for 18 years. As we announced recently, the business is performing in line with our expectations and ahead of the market.
'With a strong team and business culture firmly in place, the time is now right for me to hand over the baton. I look forward to supporting Phil, the board and the management team with the succession plan, and delivering our plans and results for the second half of the financial year.'