LONDON (ShareCast) - The managing director of Spirit, Punch Taverns’ managed pub division, is leaving the company with immediate effect.

Andrew Knight, who has been top man at Sprit since Punch acquired the group in January 2006, is to be replaced by Michael Tye, an industry veteran of almost 20 years.

In recent years Tye has led the growth of Costa Coffee, overseen the acquisition and integration of Premier Lodge and further improved the performance of David Lloyd Leisure, the company said.

“Mike has a long and diverse career in the leisure retail sector and brings with him exceptional experience which will be invaluable to the group in taking Spirit to the next stage of its development,” said Giles Thorley, chief executive of Punch Taverns.

Thorley also hailed Knight’s contribution to Punch, praising his commitment to the group “in leading Spirit through a significant period of integration over the last couple of years.”

Under Knight’s stewardship the number of managed pubs in the Spirit arm was reduced from 1,800 to 863.

• News Channel