First Leisure Corporation - appointment of CEO

Added: (Wed Apr 30 2003)

Pressbox (Press Release) - 30th April 2003

First Leisure Corporation, the private operator of late-night entertainment venues, has today announced the appointment of John Smith as Chief Executive.

John, 44, who has been acting Chief Executive since the departure of Paul Kinsey in January, joined the company as Finance Director at its inception in January 2000.

Announcing the appointment, First Leisure Chairman, Nick Irens, said “John has an enviable history of success in the retail industry, latterly as Joint Managing Director of Vision Express UK. The board’s view is that his previous experience outside of the nightclub industry will bring a fresh strategic approach to the business and this has already begun to evolve over the past three months.”

John Smith said “I am delighted to have been appointed Chief Executive. We have a strong portfolio of venues and two exciting and successful concepts in The Works and Creation. I welcome the opportunity to lead the company forward in these challenging times.”

First Leisure Corporation operates 31 late-night entertainment venues across the country, including Equinox in London's Leicester Square.

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Further information:
Ian Freeman, consultant to First Leisure Corporation
T: 020 8673 0058 M: 07770 541206
E: flc@c2u.co.uk


BIOGRAPHY

John Smith, Chief Executive, First Leisure Corporation

John Smith qualified as an accountant with Touche Ross in 1985, working for six years in the financial institutions group specialising in banks, stockbrokers and investment trusts.

In 1988 he joined International Currency Exchange plc (“ICE”) as head of finance. ICE is a large retail foreign currency group providing retail foreign exchange and travel related products on station, airport and other high street locations, with some 100 outlets and a turnover of £500 million per annum.

John Smith was created MBE in the 1992 Queen’s Birthday Honours.

In 1996 John moved to Vision Express as International Financial Director, overseeing all the financial affairs of the overseas operations. Within a year of joining, he had been appointed as Group Finance Director, overseeing teams in 14 countries, an annual turnover of £170 million and 200 retail outlets. He was responsible for a £26 million refinancing of the business, and after a very successful turn around, Vision Express was sold for £140 million to a French quoted company in 1997, at which stage he was appointed Joint Managing Director of Vision Express (UK), overseeing some 100 retail units in the UK.

John tendered his resignation from Vision Express in 1999 and turned his energies to the MBO of the nightclub division of First Leisure Corporation PLC. He was appointed the company’s Finance Director and, in April 2003, its Chief Executive.

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