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Hostmore PLC on Tuesday said that Chief Executive Officer Robert Cook has stepped down, while also noting a drop in interim revenue from pre-pandemic figures.
Shares were down 17% at 11.57 pence each on Tuesday afternoon in London.
The restaurant chain owner, based in West Sussex, England, said that Cook had resigned with immediate effect.
Julie McEwan, the chief operating officer of American restaurant chain TGI Friday’s, has been appointed as Cook’s interim replacement.
Prior to Friday’s, McEwan was at Big Table Group, the operator of a group of restaurants including Bella Italia and Cafe Rouge.
Chair Gavin Manson said: ‘We are pleased that Julie has accepted the role of interim CEO, given her strong sector experience and operational strengths. Together, we look forward to focusing on the group’s priorities and building on its strengths in the weeks and months ahead.’
Additionally, Hostmore said that on a like-for-like basis, revenue for the 26 weeks to January 1 continued at 14% below the comparative financial 2019 period.
It said that the result was achieved ‘despite the impact of Her Majesty the Queen’s passing, national rail strikes, the Football World Cup, and the unusually cold weather during the period’.
Hostmore generated £21.3 million in December, up slightly from £21.2 million a year earlier.
By Xindi Wei, Alliance News reporter
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