Fuller's promotes Emeny to group MD
London brewer and pub operator Fuller's has promoted Simon Emeny to group managing director.
Emeny, currently managing director of Fuller's Inns, will take up his new role from 1 November 2010 and will assume overall responsibility for both Fuller's Beer Company and Fuller's Inns. He will report directly into chairman Michael Turner.
"Simon has been a great asset to Fuller's since he joined us in 1996, successfully moulding Fuller's Inns into one of the UK's best quality pub groups," said chairman Turner.
"He has a wealth of experience in the beer and pub industry which will help him drive the business forward whilst preserving our core values.
"His new role will enhance Fuller's strong leadership team, ensuring we continue to be the benchmark in both retailing and brewing, serving quality
beer in excellent pubs and delivering strong returns for shareholders, while retaining our independence."
Emeny added: "Fuller's has a wonderful heritage and I am thrilled that I will be playing a key part in the company's exciting future. Fuller's has had a very good year — the Company holds a strong market position and has an estate of great pubs and fantastic beers, ensuring it is well positioned for future growth."
As previously announced, Anthony Fuller CBE, steps down as a non-executive director from today after 43 years on the board. He will remain as president of the company.
Fuller's managed pubs and hotels recorded a 4.1% increase in like-for-like sales over the 16-week period to 17 July — hailed by Turner as "amongst the very best in the sector".
While like-for-like profits at its tenanted arm were up 1% and Fuller's Beer Company's own brewed beer volumes declined by 2%.
At the end of the first quarter (26 June) net debt has fallen to £102m — from £107.7m — with net debt to EBITDA down 2.3 times.
"After some glorious summer weather there are economic clouds on the horizon, but I am confident that our strategy ensures the Company is well placed to deliver for its shareholders even in these continuing uncertain times," said Turner.
