Richard Banks has stepped down as chairman of Rick Stein Restaurants after serving in the role for nearly four years.
The group stated that Banks, the former chief executive of UK Asset Resolution, has stepped down from the position he has held since 2021 due to personal reasons.
He has been succeeded by Mark Hixon, who has been promoted from his position as non-executive director at Rick Stein Restaurants.
Hixon, an experienced consultant who joined the business in 2021, currently serves as managing director at Consulting Associates Worldwide Limited.
In a post on LinkedIn, Hixon wrote: “I am very honoured to be taking over from Richard Banks as chairman of the Rick Stein Group. It’s been a tough few years for the hospitality sector and it doesn’t look like it’s going to get any easier any time soon.
“Despite this, with a brand like ours and a great team, I am confident that we can continue to steer a successful course through these challenging economic conditions.”
Rick Stein Restaurants said in a statement: 'Rick Stein Group can confirm that Richard Banks has stepped down as chairman due to personal family reasons. The company sincerely thanks him for his leadership and contributions. Dr Mark Hixon has stepped up from non-executive director to chair.”
Rick and Jill Stein opened The Seafood Restaurant in 1975, and nearly 50 years on, the family-run business has grown to include 10 restaurants, a pub, a cookery school, 40 guest rooms, self-catering properties, and four retail shops.
The business is one of Cornwall’s largest private sector employers, with a workforce of around 650 people.
Last year, the group announced plans to open its first restaurant in central London, following a return to profitability in 2023.