London Town, the AIM-listed pub company backed by property entrepreneurs Jack Petchey and the Richardsons, has appointed Billy Buchanan to a joint role of chief executive officer and financial officer.

Buchanan, 43, has worked in a range of financial officer and chief executive officer roles in the leisure sector after qualifying as a chartered accountant with KPMG in 1989.

London Town said Buchanan had a ‘proven record of performance enhancement and business success’.

Richard Gundry, previously CEO, has been appointed development director and will support the group in developing new business opportunities. Ian Robinson was previously executive chairman and finance director and will become non-executive chairman.

London Town has also appointed Nigel Le Quesne to the Board as a non-executive director who will take over the role from David Beech who has resigned from the Board with immediate effect.

In January this year London Town completed a reverse takeover of a managed pub operator. It bought GRS Inns for £4.3m in shares and cash and installed the company’s management on its board.

GRS Inns is a managed pub operator and service provider to the leasehold pub industry with 60 unbranded leasehold pubs in the UK.

The purchase was added to London Town’s portfolio of 222 tenanted pubs.

Former Pubmaster boss and GRS chairman John Sands became chairman of London Town.