Real estate investment trust NewRiver has hired a new chairman to help manage its community pub business Hawthorn, who steps into the role with immediate effect.
Incoming chairman Colin Rutherford, a board veteran, is set to oversee over 650 pubs while maintaining his role as a non-executive director and chairman of the audit committee at FTSE 250 restaurant, pub and bar operator Mitchells & Butlers.
Shares rose 2.14 per cent in this morning’s trading, sitting at 95.4p per share.
The firm, which buys, manages and develops retail and leisure assets, snapped up the pub management platform in 2018, bolstering its now £1.1bn portfolio.
Rutherford, who has 30 years of board experience, currently serves on the audit, remuneration and nomination committees of NewRiver’s board and is the audit committee chairman. He also sits on the board and audit committee of Nasdaq Evofem Biosciences.