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