Restaurant Group Chief Executive to retire in August

21st Jan 2014 07:48

Frankie & Benny's restaurant chain operator, Restaurant Group confirmed that Chief Executive Officer (CEO) Andrew Page is to retire from the group in August 2014.Following his retirement as CEO, Page has agreed to remain with the group as advisor to the Chairman to help ensure an orderly handover."The board has initiated the search for a new CEO and will consider both internal and external candidates for the position," Restaurant Group confirmed in a statement.Chairman Alan Jackson said: "During his 12-year tenure, the company has come from having a market capitalisation of £75m to be valued now at over £1.2bn."Andrew Page added: "Restaurant Group is in very good shape and is firmly established as a leader in the UK casual dining market; it has been built on strong foundations, with a clear and proven strategy, market-leading brands in great locations and is run by a high quality and committed team."I am confident that Restaurant Group will continue to prosper."CJ