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FD watch Jeremy Townsend

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He replaces Karim Naffah who resigned after the pub group was forced to close inflation and interest rate hedges at a cost of £274m after tax.

Townsend joined the company in June 2005 as deputy FD. He previously held a number of finance roles at J Sainsbury.

Related articleFD quits after credit crunch plays havoc with hedges

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