Wagamama-owner places Metropolis stalwart Hanna on chairman’s menu | Enterprise Information

A Metropolis stalwart who has presided over a string of current takeover offers will this week be named as the following chairman of Restaurant Group, the London-listed proprietor of Wagamama.

Sky Information has learnt that Ken Hanna, a former finance chief at Cadbury, has been recognized because the successor to Debbie Hewitt, who will step down on the finish of the 12 months to chair the Soccer Affiliation (FA).

Sources mentioned {that a} inventory market announcement was anticipated to be made by Restaurant Group on Thursday morning.

Mr Hanna’s appointment will convey one of the skilled figures in British boardrooms to the helm of an organization that has confronted extreme monetary challenges throughout the pandemic.

Restaurant Group has twice raised cash from shareholders to steer it by way of prolonged intervals of closure for its manufacturers, which additionally embody Chiquito, Garfunkel’s and Frankie & Benny’s.

Like its friends, the corporate was boosted by a Price range announcement from the chancellor, Rishi Sunak, on Wednesday which is able to give the hospitality sector in England a 50% low cost on annual enterprise charges payments.

Restaurant Group is run by Andy Hornby, the previous Boots and Gala Coral chief who was answerable for HBOS when it was compelled into the arms of Lloyds TSB throughout the 2008 banking disaster.

His new chairman, Mr Hanna, has been concerned in a flurry of company offers in current months, having overseen the sale of Aggreko to TDR Capital and Isquared Capital, and the disposal of RMD Kwikform to Altrad, the French industrial group.

He additionally chairs Area Occasions Group, which agreed a takeover by a Gulf consortium earlier this month.

A spokesman for Restaurant Group declined to remark.

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