Hostmore chairman to step down

Hostmore, parent company of Fridays (formerly TGI Fridays), has announced that Gavin Manson will retire as chairman and as a non-executive director of the company on 25 May 2023 to focus on his other executive commitments.

Non-executive director Stephen Welker has agreed to become chairman-designate and will succeed Manson as chairman, subject to being elected as a director at the company’s AGM.

Manson said: "It has been a privilege to have served as chairman of Hostmore and I am pleased that Stephen will succeed me in this role, given his understanding and knowledge of the business, along with his other strengths. Though I remain a supportive significant shareholder, I will now be focusing on my other executive commitments and wish everyone at the company all the best for the future."

Welker said: "I am pleased to have been asked to become chairman of Hostmore and look forward to working with the executive management team and the board to help deliver on the company's key objectives.

“It has been a pleasure to work with Gavin for a number of years and I wish him the best in his future endeavours.”

David Lis, Hostmore's senior independent director, added: "On behalf of the board, I would like to thank Gavin for the contribution he has made to Hostmore. Gavin played an integral role in the demerger of the company from Electra Private Equity PLC and his experience, knowledge and leadership have been greatly valued by us all. He goes with our best wishes for the future.

“We are delighted to confirm the appointment of Stephen Welker as chairman-designate. Stephen brings unique strategic insight into our business, which, combined with his financial, commercial and investor relations expertise, will be invaluable as we grow and strengthen the business.”

Manson’s departure follows Robert Cook’s resignation as chief executive of the business earlier this month.

Hostmore operates 91 sites across the UK under its American-themed casual dining brand Fridays, Fridays and Go, and cocktail-led bar and restaurant brand 63rd+1st.