Wetherspoons boss Tim Martin attacks Government Brexit deal and corporate governance

Wetherspoon founder and chairman Tim Martin visits his Beckett's Bank pub in Leeds city centre. Picture: Jonathan Gawthorpe
Wetherspoon founder and chairman Tim Martin visits his Beckett's Bank pub in Leeds city centre. Picture: Jonathan Gawthorpe
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Wetherspoons chief executive and ardent Brexit supporter Tim Martin has used his company’s latest trading update to launch an attack on the Government and corporate governance rules.

Mr Martin said a no-deal Brexit would be better than the deal being proposed by Boris Johnson and also hit back at claims that his boardroom was too stale and needed new blood.

Mr Martin said: “I strongly believe that the UK economy will be better off on the basis of ‘no-deal’ rather than the deal proposed by the Government.”

On corporate governance, he added that he felt new rules limiting non-executives to nine years on boards is counter-productive.

He said: “There can be little doubt that the current system has directly led to the failure or chronic underperformance of many businesses, including banks, supermarkets, and pubs... I believe by vesting so much power in non-executive directors (NEDs), the system is also disenfranchising executives and the workforce - the people who have real expertise and are the cornerstone of business success.”