UK-based restaurant and hotel sites developer Various Eateries's CEO Yishay Malkov has stepped down from his post, effective immediately.

The company's portfolio comprises restaurant brands such as Noci and Coppa Club.

In its press release, the company stated that Malkov also relinquished his position as the director but will remain available to the team over the coming months to facilitate the transition process,

He has been at the helm of the company for almost three years.

Various Eateries executive chairman Andy Bassadone will retain his role and focus on the Noci brand, which opened its second location in the newly restored Battersea Power Station, this May.

Rebecca Tooth will continue as the managing director of Coppa Club, which launched its second location in Guildford this April.

Bassadone said: “Yishay has shepherded the company through the toughest three years that I have seen in this industry in my entire career. On behalf of the whole Various Eateries team, I would like to thank him for his dedication and tireless hard work over this period and wish him well for the future.”

Various Eateries reported revenues of £20.57m ($25.7m) in H1 2023, a 15.9% increase from £17.74m in the same period a year ago.

Its loss for the 26-week period ending 2 April 2023 widened to £4.3m from £2.57m in the prior year. Diluted loss per share for the period was £5.2, compared with £3.1 in H1 2022.