M&B steps up board battle

PUBS group Mitchells & Butlers yesterday ramped up its row with its major shareholder, billionaire investor Joe Lewis, removing his representatives from the board and appointing a new chairman in defiance of his wishes.Richard McGuire and Douglas McMahon, representatives of Lewis’s investment vehicle, Piedmont, have been told by M&B to step down.Simon Laffin, a former finance director at Safeway and M&B’s senior independent director, has been appointed chairman with immediate effect to replace Drummond Hall, who is retiring.The move came after M&B said it would appeal to the Takeover Panel to rule on whether rebel shareholders were attempting to gain control of the group. M&B also said yesterday it wants two further non-executive directors, Denis Jackson, previously a Citigroup banker, and Ray MacSharry, the former Irish finance minister, to leave.M&B claims Piedmont, which owns 23 per cent of M&B, blocked three candidates that had been lined up for the chairmanship and has accused a number of shareholders of advancing their own interests at the expense of others.Hall said yesterday: “Simon was one of the shortlisted candidates for the chairmanship and I am delighted that he is taking over, confident that he will work tirelessly for all our shareholders.”• Alphameric, the firm that beams live racing footage to bookmakers’ shops, refused to confirm or deny reports that Lewis is on the verge of a takeover bid. He owns a 29.9 per cent stake and there have been suggestions he could seize full control.