Exclusive – Clare Clough to step down as Pret UK and Europe MD: Clare Clough is to step down as the UK and Europe managing director of Pret A Manger, and leave the JAB Holdings-backed business after 15 years, Propel has learned. Clough joined Pret as head of food and technical in October 2010 before becoming global food and coffee director. She was made UK managing director in the summer of 2019, overseeing its growth to 490 sites here. Earlier this year, Propel revealed Clough had been promoted to managing director of Pret’s UK and European operations, widening her remit to also oversee the brand’s European operation and a further 100 sites. In a letter to staff seen by Propel, chief executive Pano Christou said: “After 15 incredible, transformative and unforgettable years, I want to share our huge thanks and best wishes for the future as she moves on to new adventures beyond Pret. Clare always leads with her heart. Clare's journey with Pret began in 2010, when she joined as head of food and technical. She was a key member of the team that established many of our international markets and has many great stories from her work in Paris, New York and China. Her talent and leadership quickly stood out, and she went on to become chief food and coffee officer, where she led some of the most transformative initiatives in our food safety and innovation strategy – including the rollout of full ingredient labelling and the launch of Veggie Pret. Clare also played a huge role in helping to develop Pret's allergy plan in 2019 and in making sure our food policies led the way in the food-to-go industry. In 2019, Clare stepped into the role of UK managing director, guiding the business through a period of significant operational change and recovery. Supporting all of us during some of the most challenging times through the global pandemic will never be forgotten. Her leadership has helped us restore our shop standards and customer experience to their very best. Most recently, Clare has served as managing director for Europe, continuing to champion Pret's values, support our partners and drive growth across our international markets. Clare always leads with her heart. Her passion for people and her belief in the power of the ‘3Bs’ have shaped our culture in lasting ways. From supporting the Pret Foundation and becoming a trustee, to mentoring so many future leaders, past and present, Clare's impact reaches far beyond her job titles and always will.” The business is understood to be in the middle of proposing a new three-year plan to its board, a process that should be complete by the middle of this month. Christou said: “As Clare transitions from Pret, we will come to you all at the end of September with our plans for what happens next to her role and the team.” Propel understands the brand’s product and customer and people teams will continue to report into Christou, while in the interim the commercial, marketing and operations teams will also report into him. Christou said: “Clare, thank you for your vision, your energy, and your incredible contribution to Pret. We will miss you, but the work you have done will continue to inspire us, and we wish you every success and happiness in the future.” Clough said: “Over the past 15 years, there have been so many different chapters I could have barely dreamt of when I joined – in particular, having the incredible privilege of leading the UK business as managing director for the past six years. But as Pret enters its next new phase, with a refreshed value creation plan, I feel it's the right time for me to start a new chapter of my own, starting with spending some extended time with my family. I wanted to take this opportunity to thank everyone in Pret for everything you do and everything you are. This brand and the people who make it are truly special and I'm sure I shall find, irreplaceable. And to my colleagues on the global leadership team, it has been a pleasure to work alongside you and be part of the brilliant team Pano has built.” A Pret spokesperson told Propel: “After 15 years with Pret, Clare Clough has decided to leave the business and have a career break. Over the years, Clare has been instrumental in establishing Pret's international presence, developing Pret's allergy plan, leading the UK business through the covid-19 pandemic and more recently serving as managing director for Europe. We'd like to thank Clare for her enormous contribution in making Pret what it is today and wish her the very best in her next endeavour.” Pret features in the Propel Turnover & Profits Blue Book, which is available exclusively to Premium Club subscribers and features 1,151 companies. Pret’s turnover of £1.1bn for the year ending 28 December 2023 is the 12th highest in the database. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription.

Shareholders unanimously back plans to recapitalise Wildwood operator: Shareholders of Wildwood and Dim T operator Tasty have unanimously voted in favour of its plans to recapitalise the company and bringing on board new investors in the shape of David Page and Nick Wong. As part of the deal that sees industry veteran Page join as chair and Wong as chief financial officer, the company will be renamed Bow Street Group on the London Stock Exchange and sees Tasty acquire a cash shell owned by Page and associates. The business also raised £9.25m through a share placing. Tasty previously said it was undertaking the fundraising and the acquisition, which together with the new board appointments, would see a revised growth strategy, which the “enlarged board believes will provide the group with opportunities to increase sales and increase shareholder value through both organic and inorganic growth opportunities”. The net proceeds of the fundraising are intended to be used as follows: £3.6m to invest in the acquisition of other restaurant brands, £3m on improving the group’s existing restaurants, £1m on the company’s technology and operations, and the remaining £2m being used for working capital to deliver the company’s revised growth strategy. There will also be a full review of existing sites, including scope for seven full refurbishments (approximately £250,000 of capex per site with an approximate four-year payback); a review of the status of five existing short leases within the group’s estate; and the potential rebranding of existing group brands. The company said: “In addition, the enlarged board will seek to undertake four to six acquisitions over the first three years following admission, with an aim to grow the enlarged group’s brands to 50-plus sites.” Page said: “We are pleased that shareholders are supportive of our transformative growth plan for the group, which is focused on creating shareholder value by enhancing and refurbishing the estate, investing in the Wildwood and Dim T brands, upgrading technology, and delivering acquisitions of high-quality and scalable restaurant businesses. We have a strong pipeline of potential acquisition opportunities for businesses that offer both great quality and value for customers, and we are excited for the future.” Last month, Page stepped down as a non-executive director of Meatailer, the Scott Collins-led operator of the MeatLiquor concept. Propel understands Page – the former chairman of Franco Manca-owner Fulham Shore and ex-chief executive of PizzaExpress – remains a shareholder in Meatailer. Page also told Propel last month that Gourmet Burger Kitchen (GBK) was “a great example of brands the company wants to acquire, and the sale of Franco Manca shows how much money they can make”. Page bought GBK for £10m in 2004 through Clapham House Group, the restaurant group he set up after leaving PizzaExpress, and was chairman of Franco Manca owner Fulham Shore when it was sold to Toridoll Holdings in 2023 for £93m.