BASS, the pubs-to-hotels leisure group which employs hundreds in East Lancashire, has unveiled a new chief executive as the group gears itself up for a post-brewing future.

Tim Clarke, currently the chief executive of the Bass Leisure Retail division, will take over from Sir Ian Prosser as group chief executive on October 1.

Sir Ian, who is currently both chairman and chief executive of the group, will remain as chairman after October 1 and will be responsible for the strategic direction of the group.

Sir Ian said today: "I am delighted that we are appointing Tim Clarke as group chief executive.

"He has excellent experience in the hotel business and in restaurants and pubs and was responsible for the group strategy earlier during his ten years in Bass."

Mr Clarke will be responsible for the day-to-day running of the group and will answer to Sir Ian.

However, Mr Clarke gave little away today as to how Bass would be spending the £2.3billion it received from the sale of its brewing operation to Belgian giant Interbrew in June.

He said the group was looking at various ways to maximise shareholder value by either organic growth or through acquisitions.

He also raised the possibility of returning some of the group's cash mountain to shareholders in some form or other.

The focus of the group will also centre on the expansion of its hotels empire which includes the Inter-Continental and Holiday Inn brands,

The group currently owns around 3,000 hotels worldwide.

In addition, Bass will look to grow its branded restaurant business which includes the Harvester, All Bar One and Toby brands.