“Andy Spencer (left) and Clive Chesser (right)”
The pub group's outgoing chief executive is set to take on the same role at the Pure Gym group.
Punch Pubs & Co's Chief Operating Officer, Andy Spencer, will step up to the role of Chief Executive, succeeding Clive Chesser.
Andy Spencer will officially succeed Clive Chesser as Chief Executive of Punch Pubs & Co on September 27. Chesser, who has served as CEO of the pub group for six years, will be transitioning to his new role as CEO of Pure Gym Group.
Spencer brings over 20 years of experience in the pub sector to his new role as Chief Executive of Punch Pubs & Co. Before joining Punch more than five years ago, Spencer held senior positions at Greene King, Brewhouse & Kitchen, and Allied Domecq.
He and the Punch executive intend to build on the group’s strong financial performance, with continued sales and profit growth generated by its expanding management partnerships business, from recent acquisitions including 24 pubs from the Milton Three pub group and ongoing investment in its leased and tenanted estate.
Spencer said: “We have a strong foundation and a hugely talented team, and I am excited to continue building on the momentum we have established under Clive’s stewardship. Local pubs are the backbone of communities up and down the country, and I’m looking forward to leading the Punch team to support our inspirational publicans and partners.”
Chesser said: “It has been a huge privilege to lead the Punch business for the past six years, and to work with so many talented and inspirational colleagues in an industry which I love.
“I will always be proud of the progressive steps that we have made during my tenure, and of our achievements as a business. I would like to thank every member of the Punch team for their positivity and passion, along with the partnership of our supportive owners, Fortress Investment Group.”
Clive Chesser, reflecting on his 15-year professional relationship with Andy Spencer across two businesses, expressed confidence in Spencer's leadership. He stated, 'could not be handing over to a stronger successor”, and added: “Together they will take this great company forward to the next stage of its exciting journey.”
Domnall Tait, managing director at Fortress Investment Group, said the pub group’s parent company is confident Spencer is “the right person to lead Punch into its next stage of growth”.
“We would also like to thank Clive for his expert leadership and significant contribution to Punch’s success over the past six years. Clive has overseen the evolution of Punch into a modern and progressive pub company and leaves it in excellent health,” said Tait.
Punch Pubs & Co, which operates 1,300 pubs across the UK, was acquired by US-based investor Fortress, a subsidiary of Japan's SoftBank, for an undisclosed amount in December 2021.
In November last year, Punch Pubs & Co further strengthened its leadership by appointing three strategic advisors to the board. Among them is Dame Karen Jones, who is also a non-executive director at Whitbread and Mowgli.