12th Aug 2016 06:19
(Correcting new CEO's name is Andy McCue.)
LONDON (Alliance News) - Restaurant Group PLC on Friday confirmed an earlier press report by replacing its chief executive with the former boss of betting company Paddy Power.
Sky News had reported that Restaurant Group, the owner of the Frankie & Benny's and Garfunkel's chains, would announce the departure of CEO Danny Breithaupt on Friday morning. This follows a series of profit warnings issued by Restaurant Group as it struggles against a competitive restaurant market in the UK.
Restaurant Group confirmed the move and said Breithaupt will leave with immediate effect after two years as CEO and 15 years at the company.
He will be replaced by Andy McCue, the former Paddy Power chief executive who left when the Irish betting firm merged with UK online betting peer Betfair to form Paddy Power Betfair PLC.
McCue will take up the CEO role at Restaurant Group on September 19.
By Sam Unsted; [email protected]; @SamUAtAlliance
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