The Restaurant Group CEO announces departure

By Sophie Witts contact

- Last updated on GMT

The Restaurant Group CEO announces departure

Related tags: Casual dining, Restaurant

Andy McCue, the chief executive of The Restaurant Group (TRG), has announced his decision to leave the company.

He is stepping down due to “extenuating personal circumstances”, and is expected to remain in the role while a successor is being recruited.

McCue joined TRG as chief executive in 2016 and oversaw the company’s acquisition of the Wagamama chain for £559m last year. The deal faced backlash from shareholders,​ with 40% opposing the buyout following flagging sales across TRG’s wider portfolio, which includes the Chiquito’s, Frankie & Benny’s and Garfunkel’s brands.

"In recent years, we have achieved much in a challenging market,” says McCue.

“I'm confident TRG is well positioned with the scale, talent and levers to drive profitable growth.  While I recognise that this decision is untimely, it is the right one for me and my family. We have a strong team in the business and a clear plan which we are focused on delivering."

TRG’s share price fell more than 10% in this morning’s trading following the announcement.

"Andy has brought a strong vision, developed a first-class team and laid the foundation of the Company's transformation,” says Debbie Hewitt, TRG chairman.

“Whilst we are clearly disappointed that he will not be able to provide the long-term leadership for the business, we understand and respect the decision he has made purely on personal grounds."

TRG operates over 650 restaurants in the UK.

Related topics: People

Related news

Show more

Spotlight

Follow us

Hospitality Guides

View more

Featured Suppliers

All suppliers