Busaba has promoted its commercial director Winston Matthews to CEO.
He replaces Terry Harrison, who led the Thai restaurant group since 2017, and through a Covid-era restructure.
Matthews has worked in various fields in the sector including procurement, NPD, F&B, property and management within casual and fine dining.
He joined Busaba six years ago, as head of purchasing and supply chain, and later as food and beverage director.
Before that he was general manager at Riley’s Sports Bars and Kettner’s.
He joined the sector in the kitchen, and was executive chef at D&D London’s Butler’s Wharf Chophouse and Paul Rankin.
Busaba was founded by Alan Yau and currently has ten sites.
In 2020 the brand, which is backed by London buyout specialist Tnui Capital, underwent a company voluntary arrangement (CVA), closing three sites.
Post-CVA the business opened new sites in Cardiff (October 2021) and Oxford (January 2022) but both have since closed due to underperformance.
Busaba also opened a bar concept called Ajia, alongside its Oxford site, which has also closed.
In its most recent accounts, for the year to 18 September 2022, the company reported turnover up 106% to £21.1m, with adjusted EBITDA of £171k.
The business made a loss after tax of £3.09m.
