Gaucho founder and chief executive steps down

Founder and former chief executive, Zeev Godik
10/11/2017 - 07:00
Founder and chief executive of the Gaucho Group, Zeev Godik announced yesterday (9 November) that he is stepping down from the business with immediate effect.

After 41 years at the helm, Godik said that he “wishes to consider wider interests and new opportunities in Dubai” where he resides, but will remain a shareholder in the business, which operates both the Gaucho and CAU brands, alongside its investor Equistone Partners Europe.

He said: "I am hugely proud of this business. Since I founded Gaucho over 40 years ago, it has grown to be an internationally known and loved brand with a reputation for offering outstanding Argentinian food and excellent service across an accessible selection of price points.

"The time has come for a new chapter and I am looking forward to spending more time on my wider interests and with my family in Dubai. I'd like to thank all the people who have worked with me to grow Gaucho Group into the brand it is today. That includes, of course, the ongoing management team that I have brought together. It has been the biggest pleasure and privilege and I look forward to the continuing success of the Group."

Gaucho said that Godik will “continue to provide the leadership team with support to ensure a smooth transition following his departure,” while Paul Mason – appointed group non-executive chairman earlier this month – will lead the business alongside chief operating officer Tracey Matthews and chief financial officer, Frank Bandura, until a new chief executive is appointed.

Mason added: "Zeev has created a fantastic business with a great culture. On behalf of the whole Gaucho family, I would like to thank him for his leadership over so many years.

"Well supported by our experienced investors, and with continued guidance from Zeev as a shareholder in the business, I will work closely with the group's talented management team and board to deliver the group's ambitious growth plans.

“It is a truly exciting time for the business which continues to expand, investing in existing locations and opening new sites across the UK, including most imminently our new site in Edinburgh."

According to City A.M., there are rumours that Godik was “forced out of the business he founded” with a source reportedly telling the publication “there was ‘no way’ (he) would walk away without being forced out. ‘It was his family business.’”

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