Union Square Hospitality Group has announced that, effective September 6, founder Danny Meyer will step down as CEO of USHG.
Chip Wade, current president & COO of USHG, will become CEO, and join the USHG Board of Directors. Meyer will continue as executive chairman of USHG.
Wade joined USHG as president and COO in May of 2019. Since then, he and Meyer have established and begun implementing a long-term growth plan for the company, including the assembly of an industry-leading senior leadership team, according to USHG.
Following business closures and a 90 percent reduction in staff in 2020, the two worked together to reopen and rebuild USHG's restaurants.
"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," said Meyer, in a statement. "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 30-year career in operational leadership in the hospitality industry. Most recently, he 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 COO for Legal Sea Foods in Boston, where 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, Wade worked in development and human resources for Carlson Restaurants Worldwide.
"I am honored and humbled by today's announcement," said 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, Meyer 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. Meyer will continue as managing partner of Enlightened Hospitality Investments and Board Chairman of USHGAC. He also serves as Board Chairman of Shake Shack.
Related: Danny Meyer Sees a Hopeful Future for the Foodservice Industry; Danny Meyer Talks NYC Vaccination Requirements.