Union Square Hospitality Group Announces Chip Wade to Succeed Founder Danny Meyer as CEO
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Danny Meyer remains Executive Chairman; Chip Wade, current President and COO of USHG, becomes CEO effective September 6, 2022
NEW YORK, Aug. 1, 2022 /PRNewswire/ -- Union Square Hospitality Group (USHG) today announced that, effective September 6, 2022, Chip Wade, current President & COO of USHG, will become Chief Executive Officer, and will join the USHG Board of Directors. Danny Meyer, Founder and current Chief Executive Officer, will continue as Executive Chairman of USHG.
Chip Wade joined USHG as President and COO in May of 2019. Since then, Chip and Danny have established and begun implementing a long-term growth plan for the company, including the assembly of an industry-leading senior leadership team. Following business closures and a 90% reduction in staff in 2020, Chip and Danny worked together to reopen and rebuild USHG's restaurants. Stronger than ever, the company is now surpassing pre-pandemic performance levels, paving the way for future growth. Last year, USHG launched their newest restaurant, Ci Siamo, to critical acclaim and financial success, while simultaneously doubling the footprint of the emerging Daily Provisions brand. In the past year, Chip has also led Union Square Events and its expansion and relocation to Brooklyn's Industry City, as well as the growth of Hospitality Quotient, the company's leadership, learning and development consultancy.
"Starting this company 37 years ago – with aspirations to open just one successful restaurant – and seeing the outstanding and inspirational role our colleagues have come to play in our industry - has been the personal and professional joy of a lifetime," says USHG Founder Danny Meyer. "When Chip joined us three years ago, our hope was that he'd one day be prepared to succeed me as USHG's leader, and that day has unquestionably arrived. He is an exemplary operational leader, wholly dedicated to our team members and committed to their professional and personal growth. We've partnered together and navigated the business through an incredibly challenging period emerging healthier than ever. This is the ideal time for me to hand Chip the baton."
Wade, 59, joined the USHG Executive team following a rich 30-year career in operational leadership in the hospitality industry. Most recently, Chip spent 17 years in leadership with Red Lobster and Darden Restaurants, where he oversaw all operations and development, drove best-in-industry people metrics, and enhanced financial performance for several of Darden's high-growth brands.
He also served as Chief Operating Officer for Legal Sea Foods in Boston, Massachusetts, in which capacity he led all operations for the family-owned group's 31 restaurants and oversaw the launch of the Legal Test Kitchen concept. Earlier in his career, Chip worked in development and human resources for Carlson Restaurants Worldwide.
A Pennsylvania native, Chip earned his culinary degree from Johnson & Wales University, his B.S. from Widener University, and his M.B.A. from The University of Texas at Dallas. Chip also serves on the boards of Cracker Barrel Restaurants, Johnson & Wales University, Share Our Strength and Youth Villages.
"I am honored and humbled by today's announcement," says Wade. "Working with Danny over the past three years has been a career highlight, and I am so proud of what we have accomplished together. Day in and day out, I have the unique privilege of witnessing the power of hospitality and the success of an employee-first model, evident across all USHG businesses. As CEO, I'm looking forward to accelerating our growth through cultural, operational and financial performance, in addition to driving new business priorities."
In his role as Executive Chairman, Danny will continue to collaborate with the USHG leadership team on the creation of new restaurant concepts, consult on innovation and expansion strategies, and remain an active advisor and mentor to the USHG culinary, beverage and restaurant management leadership teams. Danny will continue as Managing Partner of Enlightened Hospitality Investments and Board Chairman of USHGAC (NYSE: HUGS). He also serves as Board Chairman of Shake Shack (NYSE: SHAK).
Union Square Hospitality Group (USHG) has created some of New York's most beloved restaurants, cafes, and bars, which offer outstanding food delivered with its signature warmth and hospitality. Founded by Danny Meyer with the opening of Union Square Cafe in 1985, and later, other restaurants including Gramercy Tavern, The Modern, and Daily Provisions, the company extends its innovative approach to hospitality beyond the walls of its eateries. USHG offers operational and hospitality consulting via Hospitality Quotient, runs a multifaceted catering and events business, Union Square Events, and created two growth funds, Enlightened Hospitality Investments I and II. USHG also created Shake Shack, now a separate public company (NYSE: SHAK). USHG has long supported its communities through hunger relief and civic organizations. USHG holds an unprecedented 28 James Beard Awards and has earned numerous accolades for its distinctive style of hospitality.
Media Contact - [email protected]
SOURCE Union Square Hospitality Group
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