Tortilla Mexican Grill (MEX): Leadership reset and strategic priorities
This situation live
MEX Tortilla Mexican Grill
6 Feb 2026 · New CEOs in place; five priorities set · +21% until the next step
The Company intends to host a Capital Markets Day in the coming months to provide investors with further detail on these strategic initiatives and introduce the refreshed leadership team.
19 May 2026 · France reset; accounting issue found by new team · +0% until the next step
The Board will provide a further update with the Group's audited results, together with an update on the outlook for FY26, which the Board expects to publish in June 2026.
29 Jun 2026 · French review extended; controls being strengthened · −1% until the next step
the Board, working with the Company's auditors, has been undertaking a comprehensive review of the French operations
27 Jul 2026 · Accounts published; new three-year plan set · +1% until the next step
With the annual report & accounts (ÒAnnual ReportÓ) now published we are turning the page on the FY25 accounting issues in France and looking to the future.
27 Jul 2026 · Accounts published; new three-year plan · +1% until the next step
Management is looking forward to executing the Company's new 3-year strategic plan, with our confidence in the business underscored by the UK and France's current LFL performance.
29 Sep 2026 · Ten Key Objectives progressing; plan due early Q4 · −3% since
Board approval is expected in early Q4.
Leadership reset and strategic priorities
Ten Key Objectives progressing; plan due early Q4
Next: Board approval of three-year Value Creation Plan
Every step · 6
- 6 Feb 2026 New CEOs in place; five priorities set – The Company intends to host a Capital Markets Day in the coming months to provide investors with further detail on these strategic initiatives and introduce... ↗
- 19 May 2026 France reset; accounting issue found by new team – The Board will provide a further update with the Group's audited results, together with an update on the outlook for FY26, which the Board expects to... ↗
- 29 Jun 2026 French review extended; controls being strengthened – the Board, working with the Company's auditors, has been undertaking a comprehensive review of the French operations ↗
- 27 Jul 2026 Accounts published; new three-year plan set – With the annual report & accounts (ÒAnnual ReportÓ) now published we are turning the page on the FY25 accounting issues in France and looking to the future. ↗
- 27 Jul 2026 Accounts published; new three-year plan – Management is looking forward to executing the Company's new 3-year strategic plan, with our confidence in the business underscored by the UK and France's... ↗
- 29 Sep 2026 Ten Key Objectives progressing; plan due early Q4 – Board approval is expected in early Q4. ↗
What is happening
Tortilla Mexican Grill: Leadership reset and strategic priorities – Ten Key Objectives progressing; plan due early Q4. ['Ten Key Objectives progressing; plan due early Q4']
- In short
- Founder Brandon Stephens returned as Group CEO in February 2026 with a Board rebuild and a French review. Audited accounts were published and the Ten Key Objectives set a three-year plan. The H1 results report progress on all ten, and the Value Creation Plan is being costed, with Board approval expected in early Q4.
- Announced
- 6 Feb 2026 · New CEOs in place; five priorities set
- Latest
- 29 Sep 2026 · Ten Key Objectives progressing; plan due early Q4
- Plan
- New three-year strategic plan with Ten Key Objectives
- Board
- Gregor Grant (SID, Audit Chair) and Marta Pogroszewska joined as NEDs
- Controls
- Oversight of French finance function strengthened
- Next milestone
- Board approval of Value Creation Plan in early Q4
- H1 EBITDA
- Group adjusted EBITDA (pre-IFRS 16) £0.5m; UK £2.6m
- Technology
- Oracle EPOS migration due to complete in Q4
- Franchise
- Compass opening Addenbrooke's Hospital site in coming weeks
- Governance
- Board agreed disciplined budgeting, capital allocation and deliverable targets
What comes next
Board approval of three-year Value Creation Plan.
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