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Fri 29th Jan 2021 - Exclusive – Byng to take the reins at Flat Iron
Exclusive – Byng to take the reins at Flat Iron: Tom Byng, the founder of Byron, is to become chief executive of Flat Iron, the eight-strong steak concept, backed by Piper Private Equity, Propel has learned. Byng, who has been an investor and non-executive director at Flat Iron since 2017, will become its chief executive from 1 March. He founded Byron in 2007, and led the company for the next decade in which time the brand grew to an £80m turnover, 69-strong business. He is also chair of and investor in Bundobust, the Indian street food and craft beer concept. Flat Iron founder Charlie Carroll will remain as a significant shareholder and board member but will step back from the day-to-day running of the business into the non-executive role of founder director. Last month, Propel revealed Jo Fleet was to step down as managing director of Flat Iron, to “pursue other opportunities within the sector”. Commenting on the appointment of Byng as chief executive, Carroll told Propel: “As a founder, knowing when and to whom to pass over the day-to-day running of the business is a very tough decision. It has been made easy by Tom agreeing to come on board. I cannot think of anyone better qualified or that I would rather hand my baby over to. At Byron, Tom was responsible for, what to me, was a masterclass in building a restaurant group. While leading the field in people culture, product quality and brand, he grew the business to more than 30 fantastic sites before its sale to Hutton Collins. I am really excited to see where he takes Flat Iron on this next leg of our journey.” Byng said: “I have enjoyed being involved with Flat Iron since 2017 and it’s an honour to be succeeding Charlie who has built a fabulous business with exciting prospects. We live in uniquely challenging times but it’s my view Flat Iron will be well placed to prosper and flourish when restaurants are eventually allowed to reopen. I am really looking forward to meeting and working with the wider Flat Iron team as we continue to grow the business in London and beyond.” In October last year, Propel revealed the company had completed a £6.9m refinancing with incumbent lenders ThinCats.

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