New chairman & non-exec director for Rick Stein Group

The Rick Stein Group, the family-owned restaurant company established in 1975, has announced the appointment of Richard Banks CBE as Chairman.

Dr Mark Hixon also joins the Board as Non-Executive Director. The experienced business leaders join the Board of Directors following distinguished careers across the UK retail, management and financial sectors.

Banks (pictured), formerly CEO of UK Asset Resolution, is recognised for the successful restructuring of the failed banks, Bradford & Bingley and Northern Rock in the wake of the financial crisis.

Appointed CBE in 2016 for services to taxpayers,Banks brings industry-leading experience with him to the Board of Rick Stein.

He specialises in building strong management teams and boards in the retail and commercial banking sectors. He is also Chairman of Shop Direct Finance Company Limited, and Shop Direct Ireland both part of The Very group and Non-Executive Director of Aldermore Bank and Computershare Loan Services.

Dr Mark Hixon – who will join the Board as a NED - is the MD of Consulting Associates Worldwide (CAW), with 30 years’ experience in management consultancy, specialising in improving business performance through the management of people, processes, systems and cost.

He started his career at the Lucas Group before joining Coopers & Lybrand and then being recruited by KMPG to lead high-profile performance improvement projects. He then established his own highly successful management consulting company in 2001.

Hixon has a long-standing relationship with Rick Stein as, for the last 10 years, the business has provided breakfasts to guests at his boutique hotel in Padstow.

The search for the new Chairman and NED was led by Ian Fitzgerald, Managing Director. Despite recent challenges, the company has continued to report unprecedented growth in impact and reach: developing e-commerce and innovating lines in restaurant kit delivery boxes, as well as navigating its restaurants across the UK through the uncharted waters of the Coronavirus pandemic.

With the guidance of its new Board members, Rick Stein will look to further develop Rick and Jill Stein’s business which spans restaurants, casual dining and accommodation across the UK, as well as e-commerce including an online fishmongers, restaurant boxes and more. Rick Stein employs 720 staff and sons Edward, Jack and Charlie Stein are fellow Directors of the company.

Stein said, “We are absolutely delighted to be able to appoint Richard Banks and Dr Mark Hixon as Chairman and Non-Executive Director of our Board.

'We are excited that both, with their wealth of financial and business experience, should find our company sufficiently dynamic and interesting to offer their guidance for the next few years.

'Having spent time with Richard and Mark I think it will not only be a great business experience but also a very enjoyable one.”

Banks said, “It’s a great privilege to join an iconic brand and I look forward to helping the shareholders and executive team to develop the business further and create a long-term future for a business with its roots in Cornwall.”

Hixon, incoming Non-Executive Director, commented,“I am honoured to have been invited onto the Board and am very excited to be able to help the business on the next stage of its evolution.”