Mitchells & Butlers, the troubled Birmingham pubs and restaurants group, confirmed last night that Roger Carr is to step down as chairman once a strategic review of the business comes to an end May.
The company, which owns the Harvester and All Bar One chains, announced the review at the end of January after it admitted to losses of some £400 million on a property deal that went wrong.
At the time, M&B said finance director Karim Naffah had resigned , though chief executive Tim Clarke had his resignation rejected by the board.
Mr Carr, who has been criticised for the number of business roles he has been juggling, resisted calls from a number of angry small shareholders for his resignation. He has pledged to see the group through the strategic review process.
M&B has reportedly received a number of approaches from private equity groups, with Kohlberg Kravis Roberts, for whom Mr Carr previously acted as an adviser, also thought to be considering a possible offer.
Mr Carr, who is also chairman of British Gas owner Centrica, was earlier this month confirmed as the new chairman at Cadbury Schweppes.
M&B said that senior nonexecutive director Drummond Hall has been appointed deputy chairman with immediate effect and will succeed Mr Carr.
A spokesman for M&B said the appointment of Hall was a "natural progression".
He added the group has had "open and regular dialogue" with its shareholders and advisers.