Martin Williams has stepped down as CEO of Rare Restaurants after six years in the role.
Williams, the founder of the group behind the Gaucho and M Restaurants brands, said he was leaving to pursue his “next personal chapter”.
A new managing director for Rare Restaurants, which operates in 22 locations across the UK, is due to be appointed in early 2025.
According to Companies House, Martin Williams was fired as director of Lomo Topco, the parent company of Rare Restaurants, yesterday.
He was Gaucho’s CEO for almost ten years, from 2005 to 2014, after which he left to found M Restaurants.
In 2018, Martin Williams returned to Gaucho after it was bought out of administration by Investec and SC Lowry. The following year, Gaucho’s holding company acquired M Restaurants and combined the two brands under the newly formed Rare Restaurants, with Williams named CEO.
Under the leadership of Martin Williams, Rare Restaurants expanded with five new Gaucho steakhouses, achieving an impressive financial result. Last year, comparable sales grew by 23% and the group’s turnover was 75 million pounds.
A statement from Rare Restaurants said: “The board would like to thank Martin for his six years of leadership of the group and wish him every success in the future. Martin would also like to thank the shareholders, guests and the Gaucho and M teams nationwide for their amazing support during his 19-year journey with the company.
The company expressed excitement about “the busy two months ahead” and “expects a strong finish to 2024.”
