RTN.L Regulatory News (RTN)

The Restaurant Group plc

The Restaurant Group plc ("Group" or "TRG")

Directorate & management changes

The Restaurant Group plc today announces a number of changes to its senior team:

1. After more than five years at TRG, Kirk Davis will be standing down from his role as Chief Financial Officer (CFO) following the presentation of TRG's interim results in September 2023. Kirk will conduct the analyst presentation and investor roadshow in September and remain available to the Company until 31 October 2023.

2. Following a thorough internal and external process, Mark Chambers (currently Chief Executive Officer for Leisure & Concessions) will take on the role of CFO Designate from 1 July 2023 and will formally take over as Group CFO from 15 September 2023. Mark has over twenty years of senior experience in Leisure and Hospitality. After spending fifteen years in Finance, Mark moved into General Management roles over 10 years ago. This combination of Financial and Operational experience makes him a very strong candidate for TRG's next stage of evolution. A brief summary of Mark's career history is outlined in the notes section below.

3. Jonathan Knight, who has been with TRG for just over three years, will become CEO of Leisure & Concessions reporting direct to Andy Hornby (with effect from 1 July 2023).

4. Jacqui McManus (currently People Director for Leisure & Concessions) will take on a dual role as Group HR Director and People Director for Leisure & Concessions (reporting to Andy Hornby).

Commenting on the changes, Andy Hornby (CEO) said:

"These management changes are the result of carefully managed succession planning. I would particularly like to thank Kirk for his huge efforts over the past five years. TRG is a very different business from when he joined in 2018. He was instrumental both in the acquisition and successful integration of Wagamama and in supporting the business as it successfully navigated the Covid pandemic. We wish him all the very best for the future."

Current trading remains in line with management expectations and TRG plans to announce its Interim results on Wednesday 6th September 2023.

Enquiries:

Regulatory disclosures

Mark Chambers was a director of TRG UK Ltd when it underwent a CVA in 2020. There are no other regulatory disclosures to be made.

Notes:

1. The Restaurant Group plc operates approximately 400 restaurants and pub restaurants throughout the UK as at 21 June 2023. Its principal trading brands are Wagamama, Brunning & Price and Frankie & Benny's. It also operates a multi-brand Concessions business which trades principally in UK airports. In addition, the Wagamama business has a 20% stake in a JV operating seven Wagamama restaurants in the US and over 50 franchise restaurants operating across a number of territories.

2. Mark Chambers joined the Company as CEO of Leisure and Concessions in March 2020 and lead the business through the turbulent COVID period. He has 20+ years of experience in Finance and Operational roles and was previously Managing Director Retail at Ladbrokes Coral (now Entain plc). Prior to this Mark was Finance Director at Coral and has held senior finance positions at Giles Insurance, Coral and Norman Broadbent having started his finance career with Ernst & Young. He is a member of the Chartered Institute of Management Accountants.