Max’s Group announces key leadership change

Casual dining restaurant operator Max’s Group Inc. (MGI) on Tuesday announced a key leadership change amid the resignation of its president, Ariel Fermin, effective at the end of August.

According to MGI, its chief executive officer, Robert Ramon Trota, will also serve as president, replacing Fermin, whose resignation will take effect on August 31, 2023.

With this development, MGI business units Max’s Restaurant, Yellow Cab Pizza Co., Pancake House, Krispy Kreme, Jamba Juice, Teriyaki Boy, Sizzlin’ Steak, Dencio’s, and manufacturing No Bia will report to Trota.

"Today’s announcement represents the continuing evolution of the business, relying on strengths we have developed and mastered throughout the years," MGI chairperson Sharon Fuentebella said.

"Our course remains unaltered. The customer will always be at the center of what we do. Robert has over 20 years of experience in the food and beverage industry, and together with the Board and Management Team, we will ensure the company’s goals are executed consistent with our vision and mission," she added.

MGI’s brand portfolio also includes Max’s Corner Bakery, Maple, Max’s Kabisera, Le Coeur De France, and Singkit.

The company ended 2022 with a P451-million net income, posting a 38% increase from the previous year. It had 678 stores across 14 territories, with 612 sites in the Philippines and 66 in North America, the Middle East, and Asia.

Shares in the company closed Tuesday at P4.50 apiece, down P0.16 or 3.43% from last Friday’s finish of P4.66. —VBL, GMA Integrated News