Boss at Pizza Hut U.K. moves to Yates

June 11, 2002

LONDON -- Mark Jones, chief executive officer at Pizza Hut U.K., has been hired by pub chain owner Yates Group, Plc.

According to Business Day, Yates searched for a year before landing the new executive.

Jones, 41, previously worked with Whitbread (the U.K.'s Pizza Hut master franchisee), Allied Domecq and Courage.

No word yet on his replacement at Pizza Hut.

Yates has seen its profits decline over last year, posting a £10million (U.S. $15 million) write-off for property disposals and reorganization costs, and a pre-tax profit of £2.18million (U.S. $3.3 million) for its fiscal year ended March, compared to £15.7million (U.S. $23.5 million) for last year.

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