Dermot King will take charge of the finance team on an interim basis and will take on the critical responsibility of focusing on Oakman’s strategic direction.
Long-time non-executive director and shareholder, John Leslie, becomes non-executive Chairman.
“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,” says Borg-Neal.
“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.”
The group confirmed it had raised £5.3m from existing shareholders.
“I am delighted to announce that we have raised the maximum £5.3m from our existing shareholders,” adds Borg-Neal.
“I am both flattered and delighted by the support we have received. This funding leaves us well placed to navigate the near term challenges and enables us to look forward to prospering further as the trading environment improves.”