11 Surprising Facts About P.F. Chang's

1. Who is the New CEO of P.F. Chang's?

Eduardo Luz, the former chief brand and concept officer for Panera Bread, has taken over as the CEO and president of P.F. Chang's. He brings extensive experience in brand management and strategy to the role.

2. What Happened to the Previous CEO?

Damola Adamolekun, the former CEO of P.F. Chang's, stepped down on August 1, 2023. He will return to Paulson & Co. Inc. as a Partner focusing on investments.

3. Who Served as Interim CEO?

Rohit Manocha, a shareholder representative and P.F. Changs board member since 2019, took over as the interim CEO after Damola Adamolekun's departure.

4. What is P.F. Changs Current Status?

P.F. Changs is in a great position with over 300 restaurants in 22 countries and U.S. airport locations. The company has significantly expanded its takeout and delivery business with the P.F. Changs To Go format.

5. How Did P.F. Changs Adapt During the Pandemic?

During the pandemic, P.F. Changs successfully pivoted to off-premise dining, focusing on takeout and delivery to maintain customer service and stabilize cash flow.

6. What is the Current State of P.F. Changs Legal Issues?

P.F. Changs lost a $50 million insurance coverage dispute against Lloyds of London over pandemic-related losses. The insurance policy only covered $1 million for pandemic coverage.

7. What is the Background of Eduardo Luz?

Eduardo Luz has extensive experience in the food industry, having served as CEO of 8Greens and holding executive leadership positions at The Kraft-Heinz Company, Unilever, and Anheuser-Busch.

8. What Are the Plans for P.F. Changs Under Eduardo Luz?

Eduardo Luz plans to aggressively grow the P.F. Changs brand by broadening its reach both domestically and internationally. He aims to enhance the guest experience with high-quality Asian cuisine and hospitality.

9. What is the History of P.F. Changs?

P.F. Changs was founded in 1993 by Philip Chiang and Paul Fleming. It is the first internationally recognized multi-unit Asian culinary brand to honor and celebrate the 2,000-year-old tradition of wok cooking.

10. What is Damola Adamolekun Doing Now?

Damola Adamolekun has joined Garnett Station Partners as an operating partner. He will help identify new investment opportunities and drive innovation, value, and efficiency for the firms portfolio of brands.

11. How Can You Learn More About P.F. Changs?

For more information about P.F. Changs, visit their official website and follow them on social media platforms like Facebook, Twitter, and Instagram.