REG - Tortilla Mexcn.Grill - CEO SUCCESSION

Tortilla Mexican GrillAnnouncement

22/02/2024 08:45

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RNS Number : 0846E  Tortilla Mexican Grill PLC  22 February 2024

 

22 February 2024

TORTILLA MEXICAN GRILL PLC

("Tortilla" or the "Group")

CEO SUCCESSION

 

Tortilla Mexican Grill PLC ("Tortilla"), the UK's largest fast-casual Mexican
restaurant brand, announces that the Board has been notified by Richard Morris
of his intention, following a distinguished 35 year career in hospitality and
10 years with the Company, to step down from the Board and from his role of
Chief Executive Officer at the end of March 2024.

Andy Naylor, who has worked alongside Richard for the last seven years,
initially as Chief Financial Officer, then with added Business Development
leadership responsibilities and more recently as UK Managing Director, will
succeed him as Chief Executive Officer.

Richard and Andy will continue to work closely together in the month ahead to
ensure a smooth transition.

As previously announced, Maria Denny, joins the business this month and the
Board is now pleased to confirm her appointment to Chief Financial Officer.
Maria will also join the Board as an Executive Director following satisfactory
completion of due diligence. Maria draws on a wealth of experience in the food
and retail sector spanning 15 years' having held senior finance and accounting
positions at Muller UK and Ireland, Dairy Crest Limited and most recently as
CFO - UK and Ireland at Signify, (previously Philips Lighting).

Emma Woods, Non-Executive Chair of Tortilla said:

"On behalf of everyone here at Tortilla I would like to thank Richard for his
significant contribution to the business over the last 10 years.  Under
Richard's leadership Tortilla has expanded from 14 to 89 restaurants,
including franchises in the Middle East and UK travel locations, establishing
itself as the nation's largest fast casual Mexican brand with a strong and
expanding portfolio of exciting growth opportunities both in the UK and
overseas.

 

The Board is delighted to confirm Andy Naylor's appointment as CEO.  A
dynamic leader, Andy's commercial expertise and growth mindset have seen
him play a critical role in shaping Tortilla's multi-channel and franchise
business strategy. His deep expertise across Tortilla's operations combined
with an innovative approach to growth have positioned him as a natural
successor to Richard's highly impactful tenure. His appointment marks the
start of an important new chapter for Tortilla as we leverage the business's
increasing scale and momentum to drive further UK and international expansion.

 

We are also very pleased to confirm Maria's appointment as Chief Financial
Officer and I look forward to working closely with both her and Andy as we
continue to progress our long-term plans."

 

Richard Morris, outgoing Chief Executive Officer of Tortilla said: "After an
incredible 10 years with Tortilla, I feel this is the right time to step back
and hand the burrito baton over to Andy and the team.

It has been an extraordinary and exhilarating journey, bookmarked by huge
events such as Brexit, Covid, the development of both our franchise and
delivery strategy and, of course, an IPO. The business has proved highly
adaptable and remains a market leading offer in the fast casual space.

I leave behind a highly qualified and inspiring Board and an outstanding
Executive team who are ready for the next stage of Tortilla's development. It
has been a privilege to work with such a talented group of people, our loyal
customers, suppliers and wider stakeholders and I shall continue to cheerlead
loudly from the sidelines."

Andy Naylor, incoming Chief Executive Officer added: "The Tortilla brand has
huge potential and I am excited to be taking on the role of CEO. Recent years
have seen the Group take significant strides to expand our presence through
our multi-channel business strategy and strengthen our platform for further
profitable growth and I am looking forward to working with the team to
accelerate this journey."

ENDS

 

ENQUIRIES

 Tortilla Mexican Grill PLC                                Via Houston
 Emma Woods, Non-Executive Chair
 Richard Morris, CEO
 Andy Naylor, UK Managing Director

 Liberum Capital Limited (Nominated Adviser, Sole Broker)  Tel: 020 3100 2222
 Andrew Godber
 Edward Thomas
 Nikhil Varghese

 Houston (Public Relations)                                Tel: 0204 529 0549
 Tortilla@houston.co.uk
 Kate Hoare
 Kelsey Traynor
 Ben Robinson
 Mackenzie Parry-Bull

 

About Tortilla Mexican Grill plc

Founded in October 2007 by Brandon and Jen Stephens, Tortilla is the UK's
largest fast-casual Mexican restaurant brand with a fully customisable and
authentic California-style Mexican menu.

Tortilla operates 89 restaurants globally, including through franchise
partnerships in the UK with SSP Group plc and Compass UK & Ireland, and in
the Middle East with Eathos.

The brand serves more than 6 million customers every year.

Food provenance and quality is a critical component of our proposition. All
fillings for Tortilla's burritos, salads and tacos are prepared fresh daily,
free from artificial flavours or preservatives. Every dish is fully
customisable with thousands of flavour combinations available to try.

Tortilla is headquartered in London and employs more than 1300 people.

More details at tortillagroup.co.uk (http://www.tortillagroup.co.uk/)

 

 

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