Einstein Noah Restaurant Group Inc.’s chief operating officer Emanuel “Manny” Hilario said he will resign from his position at the bagel chain operator to seek new opportunities.
Hilario is scheduled to step down within the next several weeks, after he has assisted with the transition, the company said.
Officials with the Lakewood, Colo.-based company said they do not plan to fill Hilario’s position until after a permanent president and chief executive is named, though no time frame for an appointment was given.
Effective immediately, Einstein Noah’s three regional vice presidents of operations will handle Hilario’s responsibilities. They will report to Arthur.
The move comes just four months after the resignation of president and chief executive Jeff O’Neill, who departed suddenly in February. O’Neill was replaced by interim president and chief executive Michael Arthur.
Hilario joined Einstein Noah in 2010, when he was named chief financial officer. He was named COO in July 2013.
Before joining Einstein Noah, Hilario served as CFO at McCormick & Schmick’s Seafood Restaurants Inc., as well as Real Mex Restaurants. He was also the founder and managing director of Koios Path LLC, a management and consulting firm.
In a statement, Arthur thanked Hilario for his contributions.
“Manny has been an instrumental member of our executive team since 2010, and brought a fresh perspective to the chief financial officer, and later the chief operations officer role,” Arthur said. “We thank him for his leadership, professionalism and determination in helping us attain ever higher levels of performance across various business disciplines.”
Hilario, in a parting statement, said he is proud of the team’s accomplishments in “realizing substantial cost savings, recapitalizing the business and elevating operations and customer service,” he said. “I believe now is the appropriate time to seek out new opportunities. I wish the company much success and am confident that I am leaving it in very capable hands.”
Einstein Noah operates, franchises and licenses about 860 restaurants under the Einstein Bros., Noah’s New York Bagels and Manhattan Bagel brands.
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