Borg-Neal returns to CEO role at Oakman
Peter Borg-Neal has returned to the position of chief executive officer of the Oakman Group.
Peter Borg-Neal (pictured) has returned to the position of chief executive officer of the Oakman Group, following a head office reshuffle at the 40-site premium pub business.
The group announced the board restructuring following the departure of financial director Koula Achillea, who has left to pursue new career opportunities.
Former CEO Dermot King will now take charge of the finance team on an interim basis and will take on the responsibility of Oakman’s strategic direction.
Upon the announcement, Borg-Neal confirmed that the business recently achieved a maximum fundraising initiative through its existing shareholders, generating £5.3m for the group.
"This is a critical time for the hospitality industry, with a range of unique challenges never experienced simultaneously across so many areas," he says. "We must be agile and respond quickly to the extraneous pressures of supply, employment, energy, costs, taxation, environment and politics. I am confident that we have a team capable of meeting this myriad of challenges.
“I am delighted to announce that we have raised the maximum £5.3m from our existing shareholders. I am both flattered and delighted by the support we have received. This funding leaves us well placed to navigate the near term challenges and enables us to look forward to prospering further as the trading environment improves."
In other moves in the business, long-time non-executive director and shareholder John Leslie has become non-executive chairman. The current head of HR, Jill Scatchard, has joined the Oakman board as HR director.