Technology

Toast CEO Chris Comparato to step down

He will be replaced by COO and President Aman Narang, who co-founded the company in 2011.
Chris Comparato, left, will pass the CEO torch to Aman Narang. | Photo courtesy of Toast

Toast CEO Chris Comparato is stepping down after more than eight years leading the giant restaurant technology supplier.

He will be replaced by COO Aman Narang, who co-founded Toast in 2011 and has had a hand in virtually every part of the business since then. The transition will take effect Jan. 1, 2024.

No reason was given for Comparato’s departure. Both he and Narang will remain on the company’s board, though Comparato will cede the chairman role to Mark Hawkins, current board member and former CEO of Salesforce. 

Toast hired Comparato in 2015 to help scale the company. At the time, Boston-based Toast had just 80 employees and 500 customers, but had ambitions to reach hundreds of thousands of restaurants in the U.S.

Under Comparato’s leadership, the company has grown to 4,500 employees and about 93,000 restaurant locations and is on track to generate more than $1 billion in revenue this year. He also led the company through its initial public offering in 2021.

This summer, Comparato oversaw one of the bumpiest periods in Toast’s history after the company began charging guests a 99-cent service fee on all online orders over $10. After a loud outcry from restaurants, Toast nixed the fee, and Comparato admitted it had been a mistake.

He will leave the company in experienced hands with Narang, who co-founded Toast along with Steve Fredette and Jonathan Grimm, former colleagues at software company Endeca. The initial product was a mobile app that allowed customers to pay their tab on their phone. It has gone on to become a full suite of restaurant tech products spanning the front and back of house.

Over the years, Narang has led Toast’s sales, marketing, business development, customer success, fintech and operations departments. He has been co-president since 2012 and became COO in 2021.

“The past decade since we founded Toast has been such a remarkable journey,” Narang said in a statement. “I am honored and excited to accept the responsibility of CEO. It is an exciting time to be part of the restaurant community and I am grateful and ready for the opportunity to serve it and our Toast employees as we continue to deliver on our mission to help the industry thrive.”

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Workforce

Restaurants have a hot opportunity to improve their reputation as employers

Reality Check: New mandates for protecting workers from dangerous on-the-job heat are about to be dropped on restaurants and other employers. The industry could greatly help its labor plight by acting first.

Financing

Some McDonald's customers are doubling up on the discounts

The Bottom Line: In some markets, customers can get the fast-food chain's $5 value meal for $4. The situation illustrates a key rule in the restaurant business: Customers are savvy and will find loopholes.

Financing

Ignore the Red Lobster problem. Sale-leasebacks are not all that bad

The decade-old sale-leaseback at the seafood chain has raised questions about the practice. But experts say it remains a legitimate financing option for operators when done correctly.

Trending

More from our partners