David George, the chief financial officer of Enterprise Inns, the leased and tenanted pub group, is to retire in January after 20 years in his role.
He is to be replaced by Neil Smith, 45, the current finance director of Compass Group UK & Ireland.
George will step down at the pub group's annual general meeting on 20 January 2011.
Smith joins the company just before then on 3 January to ensure an orderly transition. Prior to working for Compass, the contract caterer he held senior finance positions with NTL, Telewest Global and Somerfield.
Hubert Reid, Chairman of Enterprise Inns, said: "David has played a key role and has been central to the growth of Enterprise Inns since he joined the company at its formation in 1991. As a result of the successful refinancing of our bank facilities in May, we have secured our medium-term financing requirements and it is now an opportune time for a successor to be appointed."
Smith added: "I am very excited to be joining Enterprise Inns which is a resilient business, with a robust balance sheet and an exciting future. I am thoroughly looking forward to working alongside Ted and his colleagues."