Regent Inns chief to bow out

REGENT Inns is parting company with its chairman after a disastrous year for the pubs group, writes David Lister.

The departure of John Spencer follows a period during which Regent shares have been mauled after a shock profits warning and falling sales.

Spencer is to go when the group reports its interim results, which are expected in February. He will be replaced by Peter Savage, chairman of engineer Kelsey Industries. Nigel Batchelor, a former director at Deutsche Morgan Grenfell, is also joining the board as a non-executive. The news comes at a time of intense speculation over Regent's future. It is believed to have revived merger talks with rival SFI Group, which holds a 3% stake. It is also understood to have held talks to acquire Slug & Lettuce, the fashionable pubs group, although those are thought to have broken down over the past few weeks. A Regent spokesman declined to comment.

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