Arc Inspirations appoints new chairman
Arc Inspirations has appointed hospitality sector veteran Mike Tye as its new chairman.
Arc Inspirations, operator of bar brands Banyan, BOX and Manahatta, has appointed hospitality sector veteran Mike Tye as its new chairman.
He will support the senior team led by CEO and co-founder Martin Wolstencroft in the on-going development of the business. This includes the significant growth phase for the company that will see Arc launch five new sites in the next 12 months.
A former CEO of Spirit Group PLC and currently chair of Big Table Group, Tye has more than 30 years of board and leadership experience in the UK hospitality sector.
“This is a cornerstone appointment for us following the successful conclusion of our recent investment process with Business Growth Fund, as we take our business into the next phase of its growth and development," says Wolstencroft. "Mike is one of the standout business leaders in our industry; his knowledge and expertise is absolutely second to none, and we are delighted to welcome someone of his calibre to Arc Inspirations. It is a real coup for us and speaks volumes for the strength of our business and the opportunities we have in front of us.”
The appointment of Tye comes after non-executive director Steve Richards, who is also the current CEO of Parkdean Resorts and chair of UKHospitality, decided to step down after nearly five years in the role.
“I’ve followed Arc’s progress for a number of years and it’s clear that Martin and his team have built a high quality and brilliantly well-run operation, with great consumer propositions and outstanding growth prospects," says Tye. "I’m delighted to join the board, and am looking forward to what promises to be an exciting time ahead, as we work together to bring even more success to the business.”