Steakhouse chain's parent names new CEO

The parent of the STK steakhouse chain has named director Manny Hilario as CEO, succeeding longtime leader Jonathan Segal.

Segal shifts to executive chairman of The One Group Hospitality, with responsibility for pursuing licensing and global development opportunities.

“As we shift to an asset-light model, we believed it was an opportune time to transition to a CEO who could focus on strategy, operations and further improvements to financial performance,” Segal said in a statement.

Hilario has served as COO and CFO of Einstein Noah Restaurant Group, the operator of the Einstein Bros. and Noah's bagel chains.

One Group operates 20 STK branches in U.S. and overseas cities. Its portfolio also includes a number of high-energy lounges and restaurants under a variety of other names.

In addition to developing and managing restaurants, the company runs several hotels and a number of lodging food and beverage operations.

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