He moves from gambling firm GVC and will have pay package of up to £3.9m in first year

Andy Hornby, the former boss of HBOS, has been appointed as chief executive of the troubled Restaurant Group, with a pay package of up to £3.9m in his first year.

Hornby, who stepped down from HBOS when it had to be rescued by Lloyds TSB in 2008, is currently the co-chief operating officer of the gambling firm GVC Holdings, which owns Ladbrokes Coral. He joined Gala Coral in 2011 and previously ran Alliance Boots for two years.

The 52-year-old’s new role at the group that owns the Wagamama and Frankie & Benny’s chains is his first chief executive role at a UK-listed company in more than a decade. He left HBOS at the end of 2008, with his reputation as one of Britain’s best young business leaders left in tatters by the banking crisis.

Hornby said: “I recognise that this sector of the market faces considerable challenges but The Restaurant Group has a set of casual dining and pub brands that offer significant potential.”

The Restaurant Group runs more than 650 restaurants and pubs across the UK, under the Wagamama, Frankie & Benny’s, Chiquito, Garfunkel’s, Coast to Coast, Brunning & Price and Food & Fuel brands. It also owns concessions in UK airports.

Original Source


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