Former Cadbury chief to head Wagamama’s owner Restaurant Group
Cadbury’s former chief financial officer Ken Hanna is reportedly set to become the next chairman of Restaurant Group, which owns several chains including Wagamama, Frankie & Benny’s and Chiquito.
A stock market announcement is expected to be made on Thursday, Sky News reported, a day after hospitality companies learnt they will be given a 50 per cent discount on annual business rates bills as part of the Chancellor’s Budget.
Hana – who was involved in several deals in the last few months, including the sale of Aggreko – will inherit a company that has seen better times. During the pandemic, Restaurant Group in two occasions was in fact forced to raise money from it shareholders to keep its subsidiaries afloat.
The group also reported mediocre results in September, registering a £58.8m statutory loss before tax.