Fuller, Smith & Turner FD James Douglas to step down

Douglas is moving to Germany, where his wife has been awarded a prestigious Humboldt Professorship. The pub chain said the search for a replacement is underway.

Chairman Michael Turner said: "The board at Fuller’s would like to thank James for his contribution to Fuller’s success during the last 11 years. James has been a valued and supportive member of the board. He leaves with our very best wishes and we all wish him every success in his future endeavours in Germany."

Douglas said: "I have thoroughly enjoyed my time at Fuller’s - it is a truly great business with an exciting future. I wish Michael, Simon, my other board colleagues and everyone at Fuller’s continued success."

Liberum said the position is likely to attract "high quality" candidates and the news does not change its view of the company.