(Reuters) - Restaurant Group Plc (L:RTN) named Barry Nightingale, ex-finance head of Monarch Airlines [MONA.UL], as its finance chief on Wednesday, over a month after the owner of Mexican food chain Chiquito first said its CFO would leave and warned on profit.
During his time at Monarch Airlines, Nightingale played a considerable role in the turnaround of the company, said Restaurant Group, which is looking to revive its own fortunes.
Restaurant Group's shares have almost halved in value this year as it battles increased competition from food-led pubs and branded restaurant chains and a drop in visitors to retail shopping parks, where many of its outlets are located.
"(Nightingale) will be able to contribute to and support the implementation of the ongoing review of our operating strategy and brands," Chief Executive Danny Breithaupt said.
Nightingale would start with Restaurant Group on June 20, the company said.
The appointment comes amid recent speculation in Sky News that private equity firm Cinven (CINV.UL) was considering a bid for the company which also owns Joe's Kitchen and Italian-American restaurants chain Frankie & Benny's.