Business
First Watch Announces Retirement of Chairman Emeritus Ken Pendery, Jr.
After leading the brand in various capacities since 1984, Pendery’s planned retirement comes nearly one year after the Florida-based company’s successful IPO
About this update from First Watch Restaurant Group, Inc.
[{"type":"text","content":"After leading the brand in various capacities since 1984, Pendery’s planned retirement comes nearly one year after the Florida-based company’s successful IPO\nBRADENTON, Fla., Aug. 17, 2022 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept with more than 445 restaurants nationwide, announced today that Ken Pendery, Jr., 68, intends to retire from the Company’s Board of Directors effective as of September 1, 2022. Pendery’s retirement follows a storied tenure of nearly 40 years with the Company, beginning soon after the Company’s founding in 1983 in Pacific Grove, CA when founder John Sullivan recruited Pendery, his colleague, to open the second First Watch restaurant. Together, they set out to create a place based upon their shared vision of what a neighborhood breakfast, brunch and lunch café should be. Throughout his tenure, Pendery has led by example and guided the Company to tremendous growth while establishing a strong culture within the organization that promotes integrity, mutual respect and, as Pendery likes to say, “just being nice.” Pendery has served as a director since August 2017 and as Chairman Emeritus of the Company’s Board since December 2019. He also served as a director of First Watch Restaurants, Inc., a wholly owned subsidiary of the Company, from October 1994 to June 2021 and served as executive chairman of First Watch Restaurants, Inc. from June 2018 to January 2020. In addition, Mr. Pendery previously served as Chief Executive Officer of First Watch Restaurants, Inc. from May 1999 until June 2018. “Ken has left an indelible mark on First Watch as a result of his outstanding leadership skills, business acumen, passion and commitment to excellence,” said Chris Tomasso, Chief Executive Officer and President. “He has been instrumental in driving the Company’s success and remarkable growth over the past 35 plus years by cultivating an organizational culture built on our ‘You First’ mission, which puts serving others above all else. It has been a true privilege to work closely with Ken during my 16 years here, and while we will certainly miss his leadership and counsel, his legacy is deeply engrained in our culture and is felt in the many leaders he has mentored over the years. Although his retirement has been planned since...