J D WETHERSPOON has strengthened its corporate governance with the appointment of chartered accountant Harry Morley as non-executive director, the pub chain said.
Morley, who will be chair of the audit committee, is also audit committee chairman and a non-executive at The Mercantile Investment Trust.
He was previously CEO of Armajaro Asset Management and a non-exec director and audit chair of Bibendum Wine Holdings Limited. Morley was formerly co-founder and CFO of restaurant business Tragus Holdings.
He joins three other non-executive directors on the board. Non-executives include Elizabeth McMeikan – appointed in 2005 and a member of the audit, remuneration and nomination committees – Debra van Gene – appointed in 2006 and a member of the audit and nomination committees – and Sir Richard Beckett – who is chair of the nomination committee and a member of the audit and remuneration committees.
Tim Martin, Wetherspoon founder and chairman, was a high profile supporter of the Vote Leave campaign ahead of the EU referendum on 23 June, spending £224,000 on the campaign. But Martin saw £18m wiped off the value of his shares in the wake of the vote. Wetherspoon’s share price plummeted from a high of £7.57 on the day of the vote to £6.68 four days later.
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