Restaurant Group shares down on directorate change

restaurant group wagamama

Restaurant Group shares were down almost 2% on Friday after the group revealed the appointment of Alex Gersh as a Non-Executive Director. 

The Restaurant Group operates approximately 400 restaurants and pub restaurants throughout the UK. Its main trading brands are Wagamama, Frankie & Benny’s and Brunning & Price. 

Gersh will join the Board on 23 February 2021 and will become a member of both the Audit and Nominations Committees.

He is currently the CFO of Sportradar and prior to that was the CFO of Carzoo, the online used car business. 

In a statement, Restaurant Group said: “He is an experienced listed business CFO and was previously CFO of the FTSE 100 listed business Paddy Power Betfair Group, where he played a key role in the merger of Betfair with Paddy Power plc and in driving the subsequent success of the combined business.”

Debbie Hewitt MBE, Chairman of Restaurant Group said:

“I am delighted to welcome Alex to the Company. As well as his strong listed finance experience, he brings deep strategic, commercial and digital skills, significant consumer insight and broad Non-Executive experience.

“He adds considerable experience to our Board and we look forward to working with him.”

Restaurant Group shares (LON: RTN) are currently trading 1.96% lower at 65,00 (1351GMT).