Chief bows out from the Hard Rock Café

The Hard Rock Café last week parted company with its chief executive, Pete Beaudrault, with immediate effect.

Beaudrault's departure follows a troubled period for the worldwide chain, which is struggling with falling profits. In the first half of last year operating profit fell by a third to £14.8m, with analysts forecasting £32m for the full year, a drop of 16%.

Hard Rock, owned by leisure group Rank, was also hit hard by the US terrorist attacks of 11 September 2001, because it relies on tourists to boost sales at its 100 restaurants in 40 countries. The chain has restaurants in seven UK cities.

Mike Smith, Rank chief executive, has assumed direct responsibility for running the restaurant chain while the group finds a successor. Possible candidates are Dave Catalano, vice-president of operations, and Michael Salter, head of finance.