Pizza Express HR director leaves

All,

PE are not replacing the position of HR director.

While the move in itself does not have any direct consequences on its own, any such movement may be foretelling that a restructuring is indeed in the works or that certain turnaround measures may take a toll on employees.

We’ll keep it in mind and look for further clues and evidence.

Again, the base case has become that the company will announce restructuring proceedings at the end of this month.

Wolfgang