Member Article

Restaurant Group gamble on former Paddy Power chief executive

London-based hospitality operator the Restaurant Group have announced that former Paddy Power chief executive Andy McCue is to replace Danny Breithaupt as the group’s chief exec.

The group, which operates over 500 restaurants across the UK, made the announcement this morning to the London Stock Exchange, bring to an end Breithaupt’s 15 year stint at the company which included two years at the helm.

Citing a recent operational review, the group said that a new leader was required in order to implement its next stage of growth as it looks to double in size over the next decade.

Describing Breithhaupt’s reign as providing ‘strong operational leadership’ for the firm, Chairman Debbie Hewitt outlined that both parties had agreed that the time was right to hand over the reigns to a new leader.

She added: “[Danny] has fully participated in the review of our operating strategy in a professional, conscientious and thorough way.

“We have agreed that this is an appropriate point for him to handover to a new leader who will implement the initial actions and set the priorities for this next phase of development for the business. We wish him well for the future.”

Andy McCue is set to assume his new role from 19 September and will be tasked with building the Restaurant Group’s portfolio of casual dining outlets, which already includes the likes of Frankie & Benny’s, Chiquito and Coast to Coast.

He was previously Paddy Power’s Chief Executive up until its merger with rival bookmaker Betfair which was completed in February.

Commenting on the new appointment, Hewitt stressed McCue’s pedigree as a ‘brand-led CEO’ which made him an ideal figurehead for the company’s ambitious growth plans.

She said: “I am delighted that he will be able to lead the implementation of this initial phase of our operating strategy and then prioritise the ongoing review.

“Andy brings strong consumer, people and brand-led CEO credentials, with very relevant experience from a multi-site business.

“His extensive strategic background, coupled with a strong commercial flair, proven hands-on operational expertise and digital credentials, will bring considerable strength and new skills to the leadership of our Executive Team.”

Shares in the group rallied in early trading following the news, after Breithaupt’s two-year reign coincided with a 44% fall the company’s share price.