Restaurant Group chair Ken Hanna to step down

(Sharecast News) - The Restaurant Group (TRG) has announced that its chair Ken Hanna is stepping down next year "due to personal reasons". The company, which owns 380 restaurants and pubs across the UK including Wagamama and Frankie & Benny's, said Hanna has decided not to seek re-election at its next AGM in 2024, but will stick around until a successor is appointed.

A "comprehensive search process" is now underway, TRG said.

Hanna, who has served as chair since January 2022, said: "It has been a privilege to work at TRG and I will be leaving the company in great shape with the business trading really strongly, outperforming the market and making good progress on its strategic options."

Chief executive Andy Hornby thanked Hanna for his "outstanding contribution".

The news came just two days after TRG's interim results, in which it reported a 10% increase in revenues and 15% jump in adjusted EBITDA, as it raised its forecasts for the full year.