McQuater quits Barracuda; Moxham steps in
4 May, 2012
Mark McQuater chief executive of the Barracuda Pub Company is leaving the company he founded almost 12 years ago. Roger Moxham, a former managing director at Mitchells & Butlers, is to become its new ceo.
The shock announcement was made to employees of the 198-strong chain, which runs the Smith & Jones and Varsity brands, yesterday afternoon.
Private-equity-owned Barracuda has been seeking new financing for the past year.
Moxham arrives after a 25 years career at M&B, where he was most recently md of its town centre, value and emerging concepts. McQuater (pictured) will remain with the company for a short handover period.
McQuater said in a statement: "It has been an exciting and rewarding time for all of us having driven a high growth business since 2000. The company’s priority is now to focus on the core pub business to further enhance its market position in the UK pub industry and I have chosen this as the right time for me to step down as CEO of the company.
"I am very proud of the excellent national pub business that we have built together. We have created a superb culture in this business, we have great people and the downside of this decision is that I will miss working with you all going forward. I have immensely enjoyed my time as your CEO but it is right that the company moves forward in the future to continue to develop and I wish you all and the new team every success."
John Conlan, Chairman said:"I would like to thank Mark for all the excellent work, motivation and leadership in starting and running the business over the last 12 years. The company has a strong brand, a good national presence and is well positioned going forward. I wish Mark well in the future"."
Moxham added:"The challenge of taking Barracuda forward through its next stage of development is one I relish. I look forward to meeting the team over the coming weeks and listening to their thoughts on what we can achieve together to make the business even better for our customers, owners and the whole Barracuda team.”