Fuller's promotes Katie Horner to CFO as Neil Smith steps down

Fuller, Smith & Turner PLC on Monday announced a leadership transition, with Katie Horner set to succeed Neil Smith as chief financial officer later this year.

The London-based pubs and hotels operator said Smith, its finance director and an executive director, had earlier indicated his intention to retire from his executive role by the end of 2026.

Following an internal and external search, Fuller’s said Horner, currently head of finance, will be appointed chief financial officer designate from September 1. She will take over as CFO upon Smith’s retirement on November 30.

Horner joined Fuller’s in 2018 as group financial controller and was promoted to head of finance in April 2025. She has been involved in several transactions, including the sale of the brewing division to Asahi Group Holdings in 2019, the acquisition of Lovely Pubs in 2024, and the company’s most recent refinancing.

‘I am very excited to step into this role, and I look forward to working with the board and leadership team to build on the company’s strong financial position and future success,’ Horner said.

Executive Chair Simon Emeny said the appointment reflects the company’s focus on developing internal talent.

‘Kate has a deep understanding of our culture and priorities, and I know she will provide excellent financial leadership,’ he said.

Emeny also thanked Smith for his contribution, saying he would leave the business ‘in a strong financial position’.

Greg Johnson, equity research analyst for travel & leisure at Shore Capital, said Fuller’s has ‘arguably the highest-quality pub estate in the UK sector’, adding that the broker has initiated coverage with a ’buy’ recommendation and a 650 pence price target.

Fuller’s shares were down 0.3% at 648.00 pence in London at midday on Monday.

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