CEO SUCCESSION

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: [phone]
Andrew Godber
Edward Thomas
Nikhil Varghese
Houston (Public Relations)	Tel: [phone]
[e-mail]
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

 

END