Wray Executive Search
 

EXECUTIVE CONNECTION

October 2026 | Issue 288

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In This Month's Issue:

Corner Office Conversations


Featuring Anthony Valletta, CEO and President of bartaco


by Kevin Stockslager, Managing Partner, Wray Executive Search


Over your career in the industry, you've worked across different segments, from fine dining to emerging concepts to now leading bartaco. What experiences have shaped your leadership style and the way you lead your team today?


I think the best thing is that it’s constantly evolving. I still haven’t found my style. I’ll figure out what I want to be when I grow up.


I’ve been fortunate enough to be in companies at so many different points. I’ve been part of a company going public. I’ve worked for a public company. I’ve worked for a company going from public to private, worked for startups, and worked for literally a small mom-and-pop.


I think each one requires different leadership skills. I’ve been fortunate to be put in those scenarios, find my way through them, and make plenty of mistakes. Each one of those experiences builds and compounds on the others.



In the early days at Darden, I learned about systematizing and what mass scale can do for you. Switching to an independent taught me what it means to lead when no one else is there to lead but you. You have to wear a million hats, and there’s nobody to call unless you have a network—and that was before I had built one. You learn independence.

Wray Executive Search is Attending the Prosper Accelerate Conference


We look forward to connecting with everyone in Dallas October 28th-30th at another fantastic industry event!

Restaurant Executive Movements - October 2026

Sweetgreen Announces Lauren Crowley as Chief People Officer


Red Lobster Names Andy Pitts Chief Marketing Officer and Jon Tryzbiak Chief Information Officer


CKE Restaurants Strengthens Executive Leadership Team to Support Growth Across Carl's Jr. and Hardee's


Hangry Joe’s Names Brandon Wilhelm CEO


CAVA Names John Ludeke Chief Marketing Officer


Original ChopShop Names Kyle Frederick as Chief Executive Officer

Industry Financials - October 2026

Domino's Pizza® Announces Third Quarter 2026 Financial Results


Uber to Acquire ezCater as it Brings Catering to Uber Eats


True Food Kitchen Initiates Voluntary Chapter 11 Proceedings to Position Business for Long-Term Success


Arrowfly Acquires Prosper Company, Including Prosper Forum and Prosper Accelerate Conference, Expanding Its Foodservice and Hospitality Portfolio


Darden Restaurants Reports Fiscal 2027 First Quarter Results; Declares Quarterly Dividend; and Reaffirms Fiscal 2027 Outlook


Meritage Initiates Voluntary Chapter 11 Process to Strengthen Its Balance Sheet and Position the Company for Long-Term Success

The Executive Capability Gap: Is Your Leadership Team Built for the Next Stage of Growth?

By Ray Kelley, Managing Partner, Wray Executive Search

Why strong performance today does not always translate into the leadership capacity required to create tomorrow’s enterprise value.


In our previous article, we explored the 18-month problem: restaurant companies often hire executives for the business they operate today rather than the business they intend to build. The same issue can exist within the leadership team already in place. A company can have capable, committed executives who have delivered strong results and still lack the leadership capacity required for its next stage of growth.



For CEOs, boards, and private equity investors, the question is not simply whether the current team is performing well. It is whether its collective capabilities and organizational design are sufficient to deliver the company's next strategic objectives. A leadership team that successfully manages 20 locations may not be equipped to support 75, integrate acquisitions, expand into new markets, or prepare the business for an eventual exit. The issue is not necessarily individual performance. It is the alignment between leadership capability and the demands of the business.

At Wray Executive Search, we’re passionate about building leadership teams that drive real impact across the restaurant, hospitality, and franchising industries.


If you’re interested in executive search insights, leadership stories, industry trends, and updates on executive movements, I encourage you to follow our Wray Executive Search LinkedIn page.


We’re proud to partner with innovative brands and exceptional leaders, and we’d love for you to be part of the conversation.

A Circular Loop?

By John Gordon, Pacific Management Consulting

October Has Turned Out to be Silly Season Again

Restaurants were sucked into October Silly Season by confirmed news Thursday by David Faber at CNBC (the absolute best M&A reporter!) that Starbucks was conferring with investment bankers on purchasing Chipotle. That would have been stunning if completed as there would have been complexities to that deal. By Monday morning, Starbucks officially denied they were purchasing Chipotle. 



Circular Loop for Restaurants?

Restaurants are working very hard (in most cases) to offset the negative outside factors. But we stumble on many situations and outcomes that we can control. This note documents some of those factors. The good news is we can break out of the box we are in and break the circular loop. We have before.  

Hot Opportunities

VP Operations - Midwest


COO - Mountain West


COO - Southern California

Check out the latest Industry Sales Report from the National Restaurant Association


Restaurant operators reported stronger sales and traffic in August


Restaurant operators reported an improvement in both same-store sales and customer traffic in August. 


Fifty-one percent of restaurant operators said their same-store sales increased between August 2025 and August 2026, according to the National Restaurant Association’s monthly tracking survey. That was up from 47% in July. 


Thirty-one percent of operators said their sales declined during the 12-month period, while 18% said their sales remained about the same.

 

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