Wagamama boss Steve Hill steps down
12 June, 2012
Steve Hill has stepped down as chief executive of the Wagamama restaurant chain. An announcement was made internally to staff earlier today.
In a letter to the Wagamama team, chairman David Williams paid tribute to Hill's contribution: "Steve's leadership over the last six years has undoubtedly been instrumental in making Wagamama the huge success that it is today.
"During his tenure as CEO, the business has more than doubled in size in the UK and has established a firm presence internationally, both through the continued expansion of the Wagamama franchises and with the successful launch of our brand in the USA. There is now a clear growth strategy in place to drive the business to its next stage of growth."
Williams added that the process to appoint Hill’s successor had commenced, while in the interim finance director Antony Perring and operations director Glyn House would assume responsibility for the day to day running of the business, reporting to the chairman.
The Wagamama business, which now has over 100 noodle restaurants in the UK and internationally, was bought by privare equity house Duke Street Capital two years ago, with David Williams being appointed chairman lare last year. Hutton Collins and the management team are also shareholders.
Last year, the chain said it was targeting up to 300 restaurants in the UK as it set out on an “aggressive” expansion under new private equity owner Duke Street Capital.
- Marston's continues with new builds as like-for-likes rise 6%
- New openings: Jamie opens diner, Shake Shack sets date
- Restaurant Group plans 30 plus new sites, as like-for-likes grow 4.5%
- Sales recover in April after big freeze, with London to fore
- Bacon and Neill line up for Future of Finance debate
- Auction Against Hunger raises £100,000
- New openings: More for D&M, TGIF, Harvester, Ed's
- Clive Watson signs up for Future of Finance panel
- Wetherspoon sees like-for-likes rise 6.3%