Fine-dining restaurant and nightclub operator, Hakkasan Group has confirmed that CEO Neil Moffitt will be stepping down from his role. Moffits' role will be filled by Hakkasan President and COO Nick McCabe.
The company stated that Moffitt has decided to liquidate his interests in Hakkasan prior to the merger closing and they have been acquired by the current shareholder.
Chairman Khalifa Bin Butti commented, 'As Hakkasan Group continues its global expansion, Nick McCabe is the natural choice to lead the company. As CEO, he brings an in-depth knowledge of the hospitality industry, extensive experience of being at the cutting edge of new technological developments and an international vision.
'In his previous role with the company, Nick was an invaluable asset and played an integral role in transforming Hakkasan Group into one of the world's most admired lifestyle companies. He is therefore perfectly placed to steer Hakkasan Group into the next exciting chapter of its prestigious history.'
Nick McCabe commented, 'I couldn't be more proud to take on the challenge of leading the company that I've been both a fan of, and then a part of, for the past six years, and I can't thank our Chairman and board members enough for their support. While it's a bittersweet time due to the departure of my mentor Neil Moffitt, I hope that I can continue the amazing work that was done by him to bring the company to where it is today.
'I also look forward to working alongside Sam Nazarian and the sbe team in an organization that promises to be the most exciting hospitality company in the world. Knowing the strength of the executives at both companies, I'm excited that we'll be surrounded by a team that is more than capable of achieving the ambitious goals that we share.'
Moffit said, “I am incredibly proud of what we have achieved over the last five years as we have transformed our company from the hopeful and ambitious nightlife group we once were to an extraordinary global hospitality corporation spanning four continents.
“The business is now primed for continued success and ready to move into its next exciting phase of development. My passion for what we have built will never go away, however it feels like the right moment for me to step off the train and refocus on my own future and family.”