Pho, the Vietnamese restaurant group, has parted company with its managing director Mark Smith. Smith, who joined the company as finance director in 2015, has now departed the business and Stephen Wall, co-founder, has assumed the role of chief executive.

The change comes as Pho reports like-for-like sales in excess of 5% over the first six months of its financial year - including a very challenging period over the summer - and after recent successful openings in Guildford and Exeter.

In addition to a Cardiff opening in 2019, the company is also believed to be in negotiations on a number of further sites both inside and outside the capital.

Smith, formerly of Sweaty Betty and Evans Cycles, initially joined Pho in 2015 as its finance director, before being promoted to managing director last year.

Stephen and Juliette Wall founded Pho, which is chaired by ex-Wagamama chief executive Steve Hill, in 2005.