Wagamama finance chief to step down amidst shake up
Wagamama’s owner The Restaurant Group (TRG) is waving goodbye to its chief financial officer, Kirk Davis, as part of a shake up of its top team.
The hospitality group, which also owns high street eateries such as Frankie & Bennys, said that Davis will step down after the publication of its interim results in September – but will remain available to the group until the end of October.
Davis served as CFO for over five years and has previously held senior roles at JD Wetherspoon and Greene King. He will be replaced by the group’s chief executive officer for leisure and concessions, Mark Chambers, a finance and retail veteran, who has been with the company for over three years.
Chambers will be replaced by Jonathan Knight, the current managing director of leisure and concessions.
In a statement, the group said Chambers, who has experience in both operational and financial roles, was “a very strong candidate for TRG’s next stage of evolution”.
Andy Hornby, TRG’s group chief exec said: “[Kirk] 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.”
The change comes after numerous shareholders voted against several resolutions including the directors’ pay – albeit a non-binding vote.
Hornby, chairman Ken Hanna and the head of the remuneration committee Zoe Morgan all received a significant portion of votes against their re-election.
Hanna received 23% of votes in favour of removal, Morgan received 24% and Hornby 15%.
Kirk Davis received the highest proportion of votes in his favour, 99.74% of voting shareholders wanted to see him re-elected.
A spokesperson for TRG confirmed that no more departures were expected.
