Neil Moffitt, the chief executive of global hospitality firm Hakkasan Group, is to step down after five years in the role.
The decision comes after weeks of speculation about a proposed merger with US-based hotel giant SBE.
Moffitt decided to liquidate his interests in Hakkasan prior to the deal and they have been acquired by the current shareholder.
Moffitt said: "The task I set myself is now complete. I am incredibly proud of what we have achieved over the past five years as we have transformed our company from the hopeful and ambitious nightlife group we once were to an extraordinary global hospitality corporation with more than 60 nightlife, daylife and dining venues spanning four continents. With over 6,000 extremely talented employees worldwide, the business is now primed for continued success and ready to move into its next exciting phase of development. My passion for what we have built will never go away, however it feels like the right moment for me to step off the train and refocus on my own future and family."
Khalifa Bin Butti, chairman of Hakkasan Group added: ‘'Neil Moffitt has been the driving force of this company and we are incredibly grateful for his vision, commitment and leadership over the years. We are naturally disappointed to see him leave."
Moffitt established himself in the UK food and beverage industry in the early 1990s and in 1999 he took Godskitchen from being a Midlands nightclub to a festival and global event brand.
In the US, he opened Wet Republic and then the Hakkasan and Omnia nightclubs in Las Vegas.
Hakkasan Group, which takes its name from the Michelin-starred restaurant in London, has sites across North America, Europe, Middle East, Asia and Africa.
It has 11 Hakkasan restaurants worldwide, as well as Ling, Yauatcha, HKK, Sake No Hana, Herringbone, Searsucker and Ivory on Sunset. Under the nightlife umbrella are Hakkasan Nightclub, Wet Republic, Omnia and Jewel Nightclub. Hakkasan is fully owned by Alliance International Investments, an investment company based in Abu Dhabi.
Videos from The Caterer archives