First Watch CFO Mel Hope to retire, transition plan underway

First Watch Restaurant Group Inc. (NASDAQ: FWRG) announced that Chief Financial Officer Mel Hope will retire later this year after nearly eight years with the company.

The breakfast and brunch restaurant chain has begun searching for Hope's replacement, considering both internal and external candidates. Hope will remain in his position until a successor is appointed and will serve as an advisor during the transition period.

Hope joined First Watch in 2018 and helped guide the company through its initial public offering process. His career began in 1984 and includes previous roles as CFO of Popeye's Louisiana Kitchen and as a partner with PricewaterhouseCoopers.

"Mel joined us with decades of experience and was invaluable in guiding our IPO process," said Chris Tomasso, CEO and President of First Watch. "For nearly eight years, he has served as a steady hand and confidant – ushering our Company into multiple stages of growth and success."

Hope stated that the company is positioned for continued growth and that he is committed to ensuring a smooth transition to his successor.

First Watch operates more than 630 restaurants across 32 states, focusing on breakfast, brunch and lunch dining. The company went public and trades on the NASDAQ under the ticker FWRG.

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