GEN Restaurant Group announces leadership changes; Co-Founder Jae Chang steps down as Co-CEO, David Kim becomes sole CEO.
Quiver AI Summary
GEN Restaurant Group, Inc., known for its popular GEN Korean BBQ dining concept, has announced a leadership change as Co-Founder Jae Chang stepped down as Co-CEO on January 8, 2025, while remaining on the board. David Kim, who is the Chairman and Co-CEO, will now serve as the sole CEO of the Company. Chang expressed pride in the growth of GEN Korean BBQ since its inception in 2011 and optimism for its future, while Kim emphasized building on the solid foundation laid by Chang. The restaurant chain, which features a unique "grill at your table" experience, has expanded to over 40 locations in the U.S. and offers a diverse menu of Korean cuisine.
Potential Positives
- GEN Restaurant Group has demonstrated stability in leadership by having David Kim take over as sole CEO, allowing for a clear direction in the company's future endeavors.
- The company's Co-Founder, Jae Chang, remains on the board, providing continuity and experience in guiding the strategic vision of the company.
- GEN Korean BBQ is positioned as one of the largest Asian casual dining restaurant concepts in the U.S., indicating strong brand recognition and market presence.
- The press release highlights the company's unique dining experience with the "grill at your table" concept, appealing to a broad customer base and supporting growth potential.
Potential Negatives
- Co-Founder Jae Chang stepping down as Co-CEO could indicate potential leadership instability or strategic shifts within the company.
- The announcement of a sole CEO could raise concerns among investors about the consolidation of power and decision-making authority.
- The reliance on forward-looking statements highlights risks and uncertainties that may affect the company's future performance, potentially causing apprehension among stakeholders.
FAQ
What leadership changes were announced by GEN Restaurant Group?
GEN Restaurant Group announced Jae Chang stepped down as Co-CEO, with David Kim becoming the sole CEO effective January 8, 2025.
Who remains on the Board of GEN Restaurant Group?
Jae Chang will remain on the Company's board after stepping down as Co-CEO.
What is the dining concept of GEN Korean BBQ?
GEN Korean BBQ offers a unique “grill at your table” experience where guests cook their own meals on embedded grills.
How many locations does GEN Korean BBQ operate?
GEN Korean BBQ has grown to over 40 company-owned locations across the United States since its founding in 2011.
Where can I find more information about GEN Restaurant Group?
For more information, visit the GEN investor relations website at investor.genkoreanbbq.com or GenKoreanBBQ.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$GENK Insider Trading Activity
$GENK insiders have traded $GENK stock on the open market 5 times in the past 6 months. Of those trades, 5 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $GENK stock by insiders over the last 6 months:
- DAVID WOOK JIN KIM (Co-Chief Executive Officer) has traded it 5 times. They made 5 purchases, buying 21,777 shares and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$GENK Hedge Fund Activity
We have seen 14 institutional investors add shares of $GENK stock to their portfolio, and 14 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FMR LLC removed 398,096 shares (-100.0%) from their portfolio in Q3 2024
- WASATCH ADVISORS LP added 352,922 shares (+72.7%) to their portfolio in Q3 2024
- PRAETORIAN PR LLC removed 248,670 shares (-100.0%) from their portfolio in Q3 2024
- RESOLUTE CAPITAL ASSET PARTNERS LLC removed 74,520 shares (-100.0%) from their portfolio in Q3 2024
- SKYLANDS CAPITAL, LLC added 59,540 shares (+33.8%) to their portfolio in Q3 2024
- CASTLEKNIGHT MANAGEMENT LP added 44,200 shares (+inf%) to their portfolio in Q3 2024
- DIAMETRIC CAPITAL, LP added 25,758 shares (+inf%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
CERRITOS, Calif., Jan. 14, 2025 (GLOBE NEWSWIRE) -- GEN Restaurant Group, Inc. (“GEN” or the “Company”) (Nasdaq: GENK), owner of
GEN Korean BBQ
, a fast-growing casual dining concept with an extensive menu and signature “grill at your table” experience, today announced changes to its leadership structure. Co-Founder Jae Chang has stepped down as Co-CEO, effective January 8, 2025, but will remain on the Company’s board. GEN’s Chairman and Co-CEO David Kim will remain as Chairman and is now the sole CEO of the Company.
Chang commented: “It has been a privilege to build GEN Korean BBQ alongside David since opening our very first location in 2011. I’m proud of all we’ve accomplished together, and I look forward to watching the Company continue to thrive.”
Kim stated: “As GEN continues its upward trajectory, we look forward to building upon the strong foundation Jae helped lay. We have an experienced team in place to continue executing our growth strategy and take the Company to new heights.”
For more information, please visit the GEN investor relations website at
investor.genkoreanbbq.com
.
About GEN Restaurant Group, Inc.
GEN Korean BBQ is one of the largest Asian casual dining restaurant concepts in the United States. Founded in 2011 by two Korean immigrants in Los Angeles, the brand has now grown to over 40 company-owned locations where guests serve as their own chefs, preparing meals on embedded grills in the center of each table. The extensive menu consists of traditional Korean and Korean-American food, including high-quality meats, poultry, seafood and mixed vegetables. With its unique culinary experience alongside its modern décor and lively atmosphere, GEN Korean BBQ delivers an engaging and interactive dining experience that appeals to a vast segment of the population. For more information, visit
GenKoreanBBQ.com
and follow the brand on
Facebook
and
Instagram
.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements may be identified by the use of words such as “believe,” “intend,” “expect”, “will,” “may”, and other similar words or expressions that predict or indicate future events. All statements that are not statements of historical fact are forward-looking statements, including any statements regarding our strategy, future operations, and growth prospects, any statements regarding future economic conditions or performance, any statements of belief or expectation, and any statements of assumptions underlying any of the foregoing or other future events. Forward-looking statements are based on current information available at the time the statements are made and on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Additional factors or events that could cause actual results to differ may also emerge from time to time, and it is not possible for the Company to predict all of them. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in our subsequent filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.
Investor Relations Contact:
Cody Slach and Cody Cree
Gateway Group, Inc.
1-949-574-3860
GENK@gateway-grp.com
Media Relations Contact:
Zach Kadletz
Gateway Group, Inc.
1-949-574-3860
GENK@gateway-grp.com
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
