Oasis Management, the Hong Kong-based activist hedge fund firm that owns 14% of Wagamama owner The Restaurant Group, has aired fresh concerns over the management of the company following the departure of chief financial officer Kirk Davis, according to a report by Proactive Investors.
Oasis Management, the Hong Kong-based activist hedge fund firm that owns 14% of Wagamama owner The Restaurant Group (TRG), has aired fresh concerns over the management of the company following the departure of chief financial officer Kirk Davis, according to a report by Proactive Investors.
Mark Chambers, who reportedly hasn’t held a financial role in ten years, has been promoted to replace Davis, with Oasis describing the appointment as “concerning”.
Chambers previously worked with TRG chief executive officer Andy Hornby from 2012 to 2019 when Ladbrokes and Coral merged to form Entain.
The report quotes Oasis Management’s head of Europe Daniel Worsner as saying: “The company appointed, in a matter of weeks, a candidate who has worked with the CEO at … other companies, and not in a CFO role. Was this truly a robust and healthy process to find the best candidate for the company?”
