TGI Fridays revealed the hiring of Ray Risley as U.S. President and COO and Nik Rupp as CFO and President of international markets. Both will report to the newly appointed CEO, Weldon Spangler, as part of the company’s growth strategy. These appointments follow Spangler’s recent appointment as CEO, marking the chain’s second CEO appointment this year.
TGI Fridays is currently engaged in a brand revitalization effort, including a menu overhaul. The recent launch of the “Claus for Celebration” menu, offering 14 new cocktails and mocktails for the holidays, is part of this initiative. Additional menu items, such as appetizers and salads, were introduced in October. In June, the chain rolled out its Grilled & Sauced menu, considered its most significant menu update since the 1990s.
Risley comes from Via 313 Pizzeria, where he served as CEO, doubling the restaurant count and facilitating future expansion. He also held roles at Front Burner Society, contributing to the growth of the Whiskey Cake Kitchen and Bar brand, and served as president of Del Frisco’s Double Eagle Steakhouse. As president and COO of TGI Fridays, Risley will oversee U.S. operations’ management and performance standards, covering both company-owned and franchised units.
Rupp, assuming the roles of CFO and President of international markets, will drive TGI Fridays’ financial strategy, particularly focusing on accounting, finance, and capital structure. His responsibilities will include formulating growth strategies and collaborating with international franchisees. Previously, he served as COO of Papa Murphy’s and held positions at global brands like Specialized, Nike, and Converse.
The chain, operating in 51 countries with 700 restaurants, reported systemwide sales of $1.6 billion in 2022 and an 8% growth in U.S. same-store sales compared to 2019. Fridays plans substantial expansion in South and Southeast Asia, aiming for 75 franchised restaurants in the next decade, projecting an additional revenue of $500 million, according to the press release.
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