Daily Newsletter

05 December 2023

Daily Newsletter

05 December 2023

Presto appoints Kat Hoffman-Flynt as new COO

Hoffman-Flynt joined Presto in 2019 as senior director of strategic projects.

Umesh Ellichipuram December 04 2023

Presto Automation, a provider of automation solutions to the restaurant industry, has appointed Kat Hoffman-Flynt as its new chief operating officer (COO), effective immediately.

Hoffman-Flynt has more than two decades of experience as an operational strategist, focusing on building strong customer relationships.

Presto CEO Xavier Casanova stated: “Kat's journey with Presto has been marked by exceptional dedication and remarkable achievements.

“Her strategic vision, leadership qualities and unwavering commitment to excellence have been instrumental in driving Presto forward.”

Hoffman-Flynt began her association with Presto as strategic projects senior director in 2019, where she was tasked to develop multiple operational strategies.

Before coming to Presto, she held executive positions at Gordon Biersch Brewery Restaurants.

She also worked with CraftWorks Restaurants & Breweries, where she advised through times of organisational change, creating and managing corporate project portfolios.

As the company’s new COO, Hoffman-Flynt will be responsible for overseeing Presto’s operations and ensuring the company achieves its objectives.

Hoffman-Flynt said: “I came to Presto with a customer’s perspective that has shaped our operational approach as a company. We understand the challenges restaurant operators face in today’s economy and we are focused on helping their businesses succeed.

“It’s been exciting to watch Presto enter and lead the drive-thru AI space and I’ve enjoyed operationalising a new product at a peak time of business demand. Prestonians are smart, fast, collaborative, resilient and dedicated to our customers.

“I am excited for this opportunity to continue leading the team and partnering with restaurant operators to drive their success.”

In November 2023, Presto agreed to divest 7,000,000 shares in a registered offering to a Remus Capital-affiliated syndicate of investors.

The tech company estimated that the deal would result in gross proceeds of $7m.

Could the consumer industry be bolstered by the increased use of AI?

The consumer goods, foodservice, and packaging sectors are undergoing digital transformation, accelerated by the COVID-19 pandemic and changing consumer preferences. Data science and ML are strong investments across all areas. These sectors will help scale up the adoption of AI technologies, such as CV, conversational platforms, and smart robots.

Western Europe foodservice market dynamics

The total revenue of the Western European foodservice profit sector totaled $685.3 billion in 2022, having declined at a negative CAGR of 2.4% during 2017–22. In 2022, FSR was the largest foodservice channel, with a value share of 25.9%, followed by QSR. However, the region’s foodservice sector is poised to bounce back as it is forecasted to register a CAGR of 8.1% by 2027.

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