P.F. Chang’s on Wednesday promoted COO Brad Hill to CEO, replacing current chief executive Eduardo Luz.
Hill has spent eight years with the Asian casual-dining chain, first as CFO and then COO. Luz joined in 2023 and will stay on in an advisory capacity through April.
Stepping into the open COO position is Corey Robertson, currently P.F. Chang’s regional VP for the Eastern U.S. He has been with Chang’s for 18 years.
In a press release, the company said Hill has deep operational expertise and an understanding of P.F. Chang’s culture. He has worked closely with Luz to set the company up for long-term growth.
Brad Hill. | Photo courtesy of P.F. Chang's
Hill said that becoming CEO is something he has aspired to. “I look forward to leading this great company and all its dedicated people to new heights as we move forward,” he said in a statement.
Luz added in a statement, “I am very proud to have worked for P.F. Chang's and its ownership group, Paulson & Company, and TriArtisan Capital Advisors, to position the company for success and having groomed a strong successor in Brad Hill.”
The Scottsdale, Arizona-based P.F. Chang’s has 300 locations worldwide, more than 200 of which are in the U.S. It is the second-largest Asian restaurant chain in the country, with about $1 billion in annual sales.
It has been steadily opening new units coming out of the pandemic, including 10 in 2022 and two in 2023. But systemwide sales fell 2.6% in 2023, the last year for which data was available, according to Technomic.
The company recently announced plans for a fast-casual bowl concept, Pagoda Asian Grill. It believes there could one day be 2,000 Pagodas in the U.S.
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