Succession Planning in the Restaurant Industry: Why It Can’t Wait
In an industry defined by constant change—new concepts, evolving customer expectations, shifting market dynamics—there’s one transition that too many companies still delay: leadership succession.
According to recent comprehensive industry survey conducted by Wray Executive Search to assess how prepared restaurant and hospitality organizations are for executive transitions:
Nearly 60% of companies expect to replace at least one C-suite leader in the next 18 months.
39% have no identified internal successors for any executive role.
Only 15% have a formal leadership development program in place.
The most cited challenge? A thin talent pipeline and lack of bench strength.
These insights—and more—are available in our full Executive Succession White Paper, which looks at the risks, trends, and opportunities shaping leadership continuity across the industry. The data speaks volumes.
What You Can Do Now
Benchmark Internal Talent: Even if you have someone in mind, compare them against external candidates. This ensures you're choosing the best person for where the business is headed—not just who’s next in line.
Invest Strategically in Development: A formal program isn’t always feasible, but identifying high-potential leaders and giving them real opportunities to stretch is key to building a resilient leadership bench.
Rethink Location Barriers: Talent is more mobile than ever. A strong search partner can help you find candidates ready to relocate for the right opportunity.
At Wray, we specialize in helping brands navigate these pivotal transitions with clarity and confidence. If your company is facing potential leadership changes or upcoming retirements—or simply wants to prepare for the future—we’re here to help.
Let’s start the conversation. 📩 Reach out to rebecca@wraysearch.com for a confidential discussion about succession planning and other executive hiring needs.
