Stan Monheim steps down as CEO of EXKi

Stan Monheim, who took over as CEO of EXKi in March 2024, is stepping down as CEO of the restaurant chain. The company has already named a successor, who will take office before the end of the year, but his name will not be announced until the coming weeks.

EXKi announces a significant change to its organizational chart. Stan Monheim, who took over as CEO in March 2024, is leaving his position "in a positive and constructive atmosphere," the company emphasizes.

While EXKi may be one of the most obvious Belgian successes in the sector, the restaurant brand wasn't spared from setbacks at the beginning of this decade. First, there were two lockdowns, followed by the inflationary shock that prompted consumers to limit their spending "out of home." The chain has 72 restaurants in five European countries, 35 of which are in Belgium (19 are franchised). EXKi's latest financial results (fiscal year 2023-2024) showed a delicate situation, with a net loss of €1.8 million. To revive the company, Stan Monheim, a manager known in the industry for his work at Carestel and subsequently Autogrill, was appointed to the helm in March 2024. He succeeded Frédéric Rouvez, co-founder and shareholder with the Dossche family. EXKi's biggest problem was its short-term debt, which required a capital injection of €15 million, combined with Iris Capital's acquisition of the shares held by Frédéric Rouvez and the Dossche family.

Since taking over as CEO of EXKi, Stan Monheim's most pressing task was to restructure debt, cut branches, and close restaurants, particularly in France, but he had made significant progress. Commercially, EXKi focused primarily on developing the travel retail market, i.e., its presence at major airports. For the current fiscal year, the chain anticipated a further decline in revenue but hoped to achieve a positive EBITDA.

Stan Monheim said of his departure: "I am proud of what we have achieved together over the past twenty months. We have undergone an intense period of transformation, which has put EXKi back on solid ground. I thank all the teams, our partners, and especially Iris, our shareholder, for their trust and support. EXKi remains a strong and inspiring brand, supported by a passionate team. I wish my successor and the new management team every success in the next phase of growth."

The future CEO, who will succeed Stan Monheim, has already been appointed and will take up his position before the end of the year, but his identity will not be announced for several weeks. EXKi also welcomes Pierre Toutel as Chief Operating Officer (COO). With over 25 years of experience in the Food & Beverage sector, particularly at Autogrill and Cigierre, he brings recognized expertise in franchising and travel retail.

How should this departure be interpreted? Amaury Marescaux, CEO of Gondola Foodservice, explains: "The example of EXKi demonstrates the structural fragility of the hospitality industry: even established businesses struggling to reinvent themselves are struggling to survive. The transition from family ownership to a fund reduces patience and increases the pressure to recover quickly, which may explain Stan Monheim's premature departure."