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Tchenguiz exec wins Mitchells & Butler seat -paper

Sun May 18, 2008 7:35am EDT
 
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LONDON, May 18 (Reuters) - British property tycoon Robert Tchenguiz has won a seat on the board of Mitchells & Butlers Plc (MAB.L: Quote, Profile, Research, Stock Buzz) for one of his key lieutenants, the Sunday Telegraph reported.

Tim Smalley, an executive at the Tchenguiz investment vehicle R20 -- M&B's largest shareholder -- will be appointed a non-executive director when the bar operator unveils results of a strategic review on Tuesday, it added.

The move may signal a rapprochement between Tchenguiz and M&B Chief Executive Tim Clarke. Tchenguiz has urged Clarke to commit to undertake significant corporate activity, such as a takeover or sale to a private equity investor.

M&B and Tchenguiz declined to comment to the newspaper on the report. (Reporting by Ben Hirschler; Editing by Jason Neely)

 

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