THE management turmoil at Harvester owner Mitchells & Butlers continued today as chief executive Adam Fowle stepped down after less than two years at the helm.
His resignation "by mutual consent" comes just weeks after chairman John Lovering resigned having been in the job for just a year.
Jeremy Blood, the former boss of brewing giant Scottish & Newcastle and non-executive director at Mitchells, will take over Mr Fowle’s role until a replacement is found.
Mitchells, which operates 1,600 sites in the UK including O’Neill’s, All Bar One and Toby Carvery, saw several board room changes last year after billionaire activist investor Joe Lewis instigated a shareholder rebellion.
Nigel Parson, an analyst at Evolution Securities, said: "The soap opera that is Mitchells and Butlers continues to run and run.
"The resignation was a surprise and will prompt a blizzard of speculation. Are the hands of Joe Lewis at work? Why did he go so soon after the departure of Mr Lovering?"
Mr Fowle became chief executive in August 2009 after Tim Clarke stepped down following a £69 million loss on a property joint-venture.
