The Restaurant Group (TRG) has announced the appointment of Barry Nightingale, the former chief financial officer of airline Monarch, as its new chief financial officer.
Nightingale, who aided in the turnaround of the airline operator, joins the owner of Chiquito and Frankie & Benny’s after the departure of its former chief financial officer Stephen Critoph in April. He will start with the company and join the Board on 20 June 2016.
Prior to his role in the turnaround of Monarch, Nightingale was finance director at Betfred for six years, where he headed up the acquisition and integration of The Tote. He was also managing director of UK Care Group for seven years.
At TRG he will accountability for the Finance function and also for IT, procurement and property.
Danny Breithaupt, TRG chief executive, said: “I am pleased to welcome Barry to the company. I am delighted that he is able to join immediately and will be able to contribute to and support the implementation of the ongoing review of our operating strategy and brands. Together with his strong financial credentials, he brings very relevant experience from a variety of consumer, leisure and multi-site businesses and will add real strength to our Executive Team. We look forward to working with him.”
Debbie Hewitt, chairman, said: “Barry has a broad commercial background and extensive corporate finance experience, which will bring new insights to the CFO role and which will allow him to make an immediate contribution to this important phase in the company’s development and in the future. We welcome him to the Board.”
The Restaurant Group, which is battling to restore investor confidence after a string of profit warnings, launched a “comprehensive review” of its property portfolio, brands and site rollout in April.
Speculation continues that several private equity groups were considering bids for the Frankie & Benny’s operator, which has seen its shares halve since the start of the year.
Cinven, the former owner of PizzaExpress, Byron, ASK and Zizzi; and TA Associates were believed to be running the rule over the Coast to Coast owner.
It has been suggested that Apollo, owner of TRG’s rival Casual Dining Group, is also mulling a bid for the listed operator.