Pub chain Young’s has announced Patrick Dardis will step down as CEO this summer.
Dardis will end his six-year stint leading the brewer and pub operator at the firm’s AGM on 5 July.
He will be succeeded by chief operating officer, Simon Dodd, who previously served on the board of rival Fuller.
Dardis will remain on Young’s board and oversee a transition of leadership, before retiring at the end of September. He has spent two decades with the company.
The pub chain’s share price soared following the news, lifting more than three per cent on Wednesday afternoon.
Chairman Steve Goodyear said Dardis “has worked very effectively and with great energy and passion for the business.”
“On behalf of the board, I would like to thank him for his huge contribution and his many successful achievements during his time at Young’s,” he added.
Patrick Dardis, CEO said: “Now is the right time to hand over the reins to Simon and the rest of the team at Young’s. I leave behind a great business, in good shape with a very talented team.
“It has been a privilege to lead a business with so many fantastic people in it and I would like to thank all of my colleagues for their support and contribution over the last 20 years.”
The chain announced it would restart its dividend in November after robust half-year results.
Adjusted operating profit stood at £27.1m in the six months to the end of September despite Covid restrictions remaining in the period.
Revenues across the whole group were down only 1 per cent on the same period of 2019.