The ONE Group Hospitality, Inc. announced that Alejandro Munoz-Suarez, Chief Operating Officer (COO), and Samuel (Sam) Goldfinger, Chief Financial Officer (CFO), will be leaving the company to pursue other opportunities. Following the appointment of Manny Hilario to the board of directors last week, board member Richard Perlman notified the company that he has stepped down from the board.

The company has commenced a search for a new CFO. Goldfinger has entered into a separation agreement with the company pursuant to which he has agreed to assist the company with its transition to a new CFO. Following Munoz-Suarez’s departure, the board of directors has determined that the COO role will be temporarily eliminated as part of the Company’s increased emphasis on licensing growth opportunities. This move will further enhance the Company’s continuing reductions in general and administrative expenses.

“As our growth strategy continues around an asset-light business model focused on management and licensing opportunities, we remain motivated to drive efficiencies that are aligned with that growth strategy,” says Jonathan Segal, CEO of the ONE Group. “On behalf of the entire team at the ONE Group and our board of directors, I would like to thank Richard, Sam, and Alejandro for their contributions to the Company.”