FD watch – Karim Naffah
Karim Naffah has resigned as FD of Mitchells & Butlers.
Naffah has fallen on his sword after the pub group put in place hedges on interest rates and inflation rates that ended up costing it £274m.
Jeremy Townsend, currently deputy FD, will be appointed to the board as FD.
Related articleFD quits after credit crunch plays havoc with hedges