Revolution Bars taps Luke Johnson for chairman

9th Sep 2024 09:33

(Sharecast News) - Bar chain Revolution Bars has appointed Luke Johnson to the role of non-executive chairman following the retirement of Keith Edelman, who has been in the job for almost a decade.

Revolution Bars said on Monday that Johnson, who was previously the chairman of and a significant investor in PizzaExpress during its rapid expansion in the 1990s, also participated in the group's recent fundraise and holds 300.0m ordinary shares of 0.1p each, representing 20% of the company's ordinary shares.

Chief executive Rob Pitcher said: "Keith's strong leadership has been instrumental in steering the group since 2015. Through IPO, the pandemic, unsolicited offers and the most recent fundraise and restructuring plan.

"We are excited to be working with Luke who is vastly experienced in the hospitality sector and brings a wealth of knowledge to enable the next phase of the group's development."

As of 1050 BST, Revolution shares had rallied 8% to 0.94p.

Reporting by Iain Gilbert at Sharecast.com