Peter Borg-Neal to return to CEO role at Oakman in board restructure

The Oakman Group has announced a board restructuring following the departure of finance director Koula Achillea, who it said was "pursuing new career opportunities".

The reshuffle will see Oakman founder and executive chairman Peter Borg-Neal return to the position of chief executive, with the leadership team reporting directly to him.

Dermot King, who was promoted from chief operating officer to chief executive last year, will take charge of the finance team on an interim basis including responsibility for Oakman's strategic direction.

Meanwhile, non-executive director and shareholder John Leslie has been appointed non-executive chairman, and head of HR Jill Scatchard has joined the board as HR director.

Borg-Neal said: "I want to thank Koula for her support and enormous contribution during her time with us, and we wish her well in her future ventures.

"This is a critical time for the hospitality industry with a range of unique challenges never experienced simultaneously across so many areas. We must be agile and respond quickly to the extraneous pressures of supply, employment, energy, costs, taxation, environment and politics. I am confident that we have a team capable of meeting this myriad of challenges.

He added: "Jill has been instrumental in making Oakman a first-class employer. Attracting, retaining and developing great people is more important than ever and it is entirely appropriate that Jill has a seat on the board."

Borg-Neal also announced the company had raised the £5.3m 'buffer' it was hoping to raise from shareholders, which he said made the business "well placed to navigate the near term challenges and enables us to look forward to prospering further as the trading environment improves".