Why Playing In A Narrow Space Is Key To Success In Fast Casual
Fast casual is the fastest-growing sector in the restaurant industry. In such a busy space, how does a new company stand out from the crowd?
Paul Damico, CEO of Naf Naf Middle Eastern Grill, says that it's all about having a solid product. "We are going to do Middle Eastern food better than anyone else."
Damico is a veteran of the fast casual industry. Prior to Naf Naf Grill, Damico served as President of FOCUS Brands overseeing more than 5,000 restaurants. Damico says he is excited to take the lessons he learned leading companies like Auntie Anne's and Cinnabon. The company plans to start franchising by the second quarter.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
